US 10Y Yield Steadies Ahead of Fed Decision
The yield on the US 10-year Treasury note hovered around 4.43% on Wednesday as investors awaited the Federal Reserve’s latest policy decision, where it is widely expected to leave interest rates unchanged. The meeting will also be the first chaired by Kevin Warsh, although he is not expected to submit a “dot” to the FOMC’s quarterly projections that outline individual officials’ expectations for the future path of interest rates. Investors will also focus on upcoming US retail sales and pending home sales data for additional signals on the strength of the economy. Meanwhile, markets continued to monitor the anticipated US-Iran peace agreement, scheduled to be signed on Friday, which is expected to reopen the Strait of Hormuz and help restore oil flows from the Middle East.
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