Treasury Yields Plummet After Fed Drops "patient" From Policy Statement

MarketWatch Pulse

U.S. Treasury yields plummeted Wednesday, after the Federal Reserve dropped the word "patient" from its policy statement, indicating that a rate hike is approaching, but revised the dot-plot projection to a slower upward pace than previously expected. The dot-plot is a chart that maps out individual policy maker's forecasts for overnight interest rates through 2017.The yield on the benchmark 10-year Treasury note fell 7.9 basis point to 1.979%, according to Tradeweb, dropping below 2% for the first time since Feb. 6th. The two-year note shaved off 9.7 basis point to 0.585%, and the 30-year bond yield declined 6.6 basis points to 2.558%.

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