Yields on longer-term U.S. debt–the most watched part of the Treasury market–fell slightly after the Federal Open Market Committee decided to hold rates steady.
10-year yields, at 4.345%, moved down from 4.35%. 30-year rates, at 4.893%, also slipped from 4.897%. Lower yields mean bonds in existing portfolios have risen
Still, these are small moves and there’s good reason investors shouldn’t take them to heart. The Treasury market has consistently reacted instinctively, or with a knee-jerk response, and it can take well after the Fed news conference to have more conviction on the trajectory of yields.
