Treasuries Erase Losses After Fed Minutes Highlight Global Risks

FOMC Minutes Show Officials Delayed Rate Hike Over Risks

The benchmark 10-year Treasury note erased losses after minutes from the Federal Reserve’s Sept. 16-17 meeting showed that policy makers were concerned over the growing risk the slowing global economy posed to U.S. economic expansion.

Some officials said they wanted to hold back on raising interest rates because inflation remaining entrenched below their 2 percent target might raise questions about the central bank’s credibility.

The 10-year note yield slipped one basis point to 2.06 percent as of 2:18 p.m. in New York, according to Bloomberg Bond Trader data, after earlier climbing to 2.10 percent. The benchmark 2 percent security due in August 2025 traded at 99 15/32.

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