Treasury Yields Tumble To 2-week Low After Fed Leaves Rates Unchanged

Treasury yields tumbled Wednesday after the Federal Reserve left U.S. interest rates unchanged, though central bankers appeared more open to a September increase in light of an improved economy. Yields gained across the board after the news, but later fell again to trade lower on the day, with the yield on the benchmark 10-year Treasury note down 2.6 basis points at 1.535%, its lowest level since July 13, according to Tradeweb. Yields and prices move in opposite directions and one basis point is equal to one hundredth of a percentage point. The yield on the 30-year bond was down 4.6 basis points at 2.233%, also a two-week low. And the yield on the benchmark two-year note lost 1.6 basis points to 0.750%, retreating from a one-month high reached a session earlier, as investors had priced in a more hawkish Fed rhetoric than previously expected.