Authorities bond yields stay steady forward of the Fed’s minutes
US Treasury bond yields barely changed on Wednesday morning before the minutes of the Federal Reserve’s latest monetary policy meeting were released.
The benchmark 10-year Treasury note yield was unchanged at 1.656% at 7:35 a.m. ET. The yield on the 30-year government bond rose to 2.324%. The returns move inversely to the prices.
The Federal Open Market Committee will publish the minutes of its March meeting at 2 p.m. (CET). The Fed has left rates unchanged, but investors will be scrutinizing the logs for clues as to when the central bank might raise rates.
The International Monetary Fund on Tuesday raised its global economic growth outlook for 2021 to 6%, compared to its January forecast of 5.5%. The organization said that “a way out of this health and economic crisis is becoming increasingly visible”. However, the IMF warned of “formidable challenges” given the varying pace of vaccine adoption around the world.
An auction for 119-day bills valued at $ 35 billion will take place on Wednesday.
– CNBC’s Pippa Stevens contributed to this report.