Treasury Yields Erase Early Increase After Fed Leaves Rates Unchanged

Treasury yields erased their early increase to trade largely unchanged on the day after the Federal Reserve kept interest rates unchanged but strongly signaled a rate hike was likely before the end of the year. The yield on the two-year Treasury note , which is most sensitive to Fed rate changes, retreated from a three-month high reached earlier in the session to trade up 0.4 basis point at 0.782%, according to Tradeweb. Treasury yields rise when prices fall and vice versa. One basis point is equal to one-hundredth of a percentage point. The yield on the benchmark 10-year Treasury note was up 0.2 basis point to 1.689%. And the yield on the 30-year Treasury bond inched lower by 0.3 basis point to 2.426%.