10-year Treasury yield drops as low as 1.97%, first time below 2% since November 2016.
The yield on the benchmark 10-year Treasury note fell below 2% for the first time since November 2016 on Wednesday — breaching a key psychological level.
The policymaking committee of the Fed also dropped the word "patient" from its statement, a sign interpreted by some investors as a hint that the central bank hasn't abandoned the idea of a rate cut in 2019.10-year Treasury note fell below 2% for the first time since November 2016 on Wednesday — breaching a key psychological level — after the Federal Reserve struck a more dovish tone in its June policy statement and Chair Jerome Powell said that the case for easier monetary policy had strengthened., that decision was accompanied by a growing number of officials open to one rate cut by the end of 2019 with eight members in favor. However, the consensus still didn't expect a reduction until 2020 at the earliest.
The policymaking committee of the Fed also dropped the word "patient" from its statement, a sign interpreted by some investors as a hint that the central bank hasn't abandoned the idea of a rate cut in 2019. The Fed tweaked its statement to acknowledge that inflation is "running below" its 2% objective., which moves inversely to price, declined below 2% to 1.9821% — around its lowest levels since November 2016. The yield on the 2-year slipped to 1.
While stock investors and home buyers may initially cheer the drop in the benchmark for corporate bond and mortgage rates, the return to levels not seen in more than two years raises serious questions about the state of the economy.
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