6/16, 8:21 PM (Source: TeleTrader)
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10-year Treasury yield jumps after Fed statement

The yield on the benchmark US 10-year Treasury yield jumped in the aftermath of the latest Federal Reserve update.

A majority of officials now expect at least two rate hikes in 2023, according to the Fed's statement. Meanwhile, traders were awaiting Chair Jerome Powell's remarks on the state of the economy and rising inflation.

The yield on the 10-year Treasury note was up 5 basis points to 1.548% at 2:20 pm ET.

Breaking the News / JC