US Treasury bond yields fall forward of the Fed’s determination
US Treasury bond prices were higher on Wednesday morning as investors waited to hear from Federal Reserve Chairman Jerome Powell.
At around 1:30 p.m. ET, the benchmark 10-year government bond yield was 8 basis points lower, at 1.3328%, and the 30-year government bond yield fell 11.5 basis points to 1.8685%. The returns move inversely to the prices.
US Treasury bond yields had rebounded slightly on Tuesday as the Evergrande-led sell-off subsided.
The focus this Wednesday is on what Jerome Powell will say at 2:30 p.m. ET after the central bank’s two-day meeting. Investors are looking for more details on possible tapering before the end of the year.
On the data front, there will be home sales numbers available at 10 a.m. ET.
Meanwhile, money managers are also digesting news that The House has passed laws avoiding a government shutdown and suspending the debt ceiling through December 2022.