Fed's Policy Stance Points to Higher Long-Dated Treasury Yields
The Federal Reserve's removal of the statement that "inflation is making progress" toward the 2% target suggests long-dated bond yields will be higher, said Franklin Templeton Institute's Chris Galipeau in a note. "Long bond yields should back up on this," he added. On Wednesday, the Fed left the target range for the fed funds rate unchanged at 4.25%-4.50%, as expected.
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