Bond yields dip as traders wait to see if U.S. central bank suggests it will be on hold after expected 25 basis point hike.
Bond yields nudged lower on Wednesday ahead of the Federal Reserve’s monetary policy decision later in the day.
What’s happening What’s driving markets Trading was cautious ahead of the Federal Reserve’s monetary policy decision due at 2 p.m. Eastern. Fed Chair Jay Powell will hold a press conference at 2:30 p.m.. Indeed, the central bank is expected to take its Fed funds rate target back down to 4.45% by December, according to 30-day Fed Funds futures.
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