Treasury yields came off their sessions highs after the Federal Reserve's policy statement showed it had kept its benchmark interest rate unchanged between a range of 2.25% to 2.50%. The 10-year Treasury note yield was virtually unchanged at 2.711%. The 2-year note yield fell 1.1 basis points to 2.558%. The 30-year bond yield rose 1.6 basis points to 3.057%. Debt prices move in the opposite direction of yields. The Fed said it would be patient with further rate increases. The central bank also said if the economic situation deteriorated it would be ready to tweak how it normalized its $4 trillion asset portfolio. The statement echoes remarks by senior Fed officials that the central bank retained the option of adjusting the balance-sheet reduction if it presented a problem.
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