Yield on 10-year Treasury jumps despite Fed's dovish tone

Thursday, 18. March 2021 12:27

Treasury yields jumped on Thursday despite the Federal Reserve striking a dovish tone in its latest policy update.

The Federal Open Market Committee voted unanimously to leave interest rates unchanged on Wednesday while a majority of members still expect rates to remain near zero through 2023. In a press conference following the announcement, Fed Chairman Jerome Powell was adamant that policymakers want to see clear signs the economy has recovered from the pandemic before adjusting its policy.

The yield on the benchmark 10-year Treasury note rose 9.4 basis points to 1.739% at 7:20 am ET, while the yield on the 30-year Treasury bond was up 7.6 basis points to 2.502%.

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