Treasury Yields Decline After Fed Minutes

Treasury yields turned lower on Wednesday after minutes from the Federal Reserve's most-recent meeting revealed that some officials were waiting for more clarity about President Donald Trump's fiscal policies. Though many policy makers said they believed that the next hike could come "fairly soon" provided economic data continue to improve, the overall tone of the minutes was somewhat less hawkish than investors had anticipated, market strategists said. Fed officials also voiced concerns about the dollar's recent appreciation. The yield on the 10-year Treasury note shed 1.4 basis point to 2.414%, while the yield on the two-year note rose marginally to 1.228%. The yield on the 30-year Treasury bond fell 1.2 basis point to 3.024%. Yields had moved higher earlier in the session following hawkish comments from Fed Gov. Jerome Powell and an auction of $34 billion in new five-year notes that was somewhat softer than expected, analysts said.