Treasury yields extend decline after Fed policy update

Treasury yields added to their decline after the Federal Reserve issued its policy statement, following the meeting of its interest-rate setting body. The 10-year Treasury note yield fell 4.1 basis points to 2.466%. The 2-year note yield slipped 4.2 basis points to 2.226%. The 30-year bond yield dipped 4.6 basis points to 2.891%. The central bank emphasized its patient policy stance, and kept policy rates unchanged between a range of 2.25% and 2.50%. The central bank also cut its interest rate on excess reserves to 2.35% from 2.40% in order to keep its fed funds rate well within the target range.

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