U.S. Treasury yields fell on Wednesday as investors awaited the Federal Reserve’s latest meeting minutes and assessed the outlook for monetary policy.
U.S. Treasury yields fell on Wednesday as investors awaited the release of the Federal Reserve's latest meeting minutes and assessed the outlook for monetary policy.was down by less than one basis point to 3.9468%. It had briefly risen as high as 3.966% earlier in the session, a level last seen in early November.Yields and prices move in opposite directions. One basis point is equivalent to 0.01%.
Many are hoping for fresh clues on Wednesday, when the minutes from the central bank's last meeting on Jan. 31 and Feb. 1 are due to be published. The Fed hiked interest rates by 25 basis points then, though several central bank officials confirmed they wereIt was the eighth consecutive rate hike as the Fed's fight against persistently high inflation continued.
Earlier this month, both consumer and wholesale inflation readings came in higher than expected on a monthly basis for January. Meanwhile, Fed speakers indicated that, sparking concerns about further, and potentially steeper, rate increases. Many investors are concerned about the impact of high interest rates on the U.S. economy and fear that the pace of rate hikes could lead to a recession.
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