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%.
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