U.S. Treasury Yields End Mixed After Fed Leaves Rates Unchanged
On Wednesday (July 29), at the New York close, the yield on the U.S. 10-year benchmark Treasury note rose 7.10 basis points to 4.6773%. During the session, it traded in a range of 4.6042% to 4.6956%. It hit its intraday low at 2:00 a.m. Beijing time, when the Federal Reserve announced it was holding rates steady, though it only dipped slightly overall. After Fed Chair Powell’s press conference ended, it hit an intraday high at 4:16 a.m., approaching the July 24 peak of 4.7117%, the January 14, 2025 peak of 4.8069%, and the October 23, 2023 peak of 5.0187%. The 2-year Treasury yield fell 1.44 basis points to 4.2726%, trading between 4.3345% and 4.2150% during the day. It plunged when the policy statement was released, coming close to 4.24%, and then quickly set a fresh intraday low after Powell’s press conference ended.