Treasury Yields Fall As Fed Holds To Outlook For 2 More Rate Rises

Treasurys gained ground, extending a decline for yields on Wednesday, after the Federal Reserve delivered a widely expected rate increase and pointed to two more rate rises in 2017. Yields, which move in the opposite direction of prices, had hit multiyear highs earlier this week, driven in part by concerns the Fed could signal a more aggressive approach to future rate increases. The yield on the 2-year Treasury note fell 6.5 basis points on the day to 1.3197%, after trading near 1.3848% ahead of the decision, according to FactSet, while the 10-year yield fell 7.3 basis points to 2.5295% versus 2.5695% earlier.