Treasury Yields Decline After Fed Statement

Treasury yields moved lower after the latest policy statement from the Federal Reserve said the central bank will raise rates when policy makers have "seen further improvement in the labor market and [are] reasonably confident that inflation will move back to its 2 percent objective over the medium term." The yield on the 10-year Treasury was up 1.5 basis points on the day to 2.329%, down from 2.394% immediately ahead of the statement. The two-year yield turned negative for the day, down 1.7 basis points to 0.673%, from 0.738% ahead of the statement.