FX.co ★ US 10Y Yield Steadies Ahead of Fed Decision

The yield on the US 10-year Treasury note hovered around 4.43% on Wednesday as investors awaited the Federal Reserve’s latest policy decision, with markets broadly expecting interest rates to be left unchanged. The meeting will also be the first chaired by Kevin Warsh, though he is not expected to submit a “dot” to the FOMC’s quarterly projections, which detail individual policymakers’ views on the future path of interest rates. Investors are also looking ahead to US retail sales and pending home sales data for further insight into the economy’s underlying strength. At the same time, markets continued to track progress on the anticipated US–Iran peace agreement, scheduled to be signed on Friday and expected to reopen the Strait of Hormuz, helping to restore oil flows from the Middle East.