Bonds
Bond Traders Ignore Fed Rate Cut With Focus on Trump’s Return
- Treasuries only pare some of the post-election losses
- Powell said US presidential election had no effects on policy
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Bond traders looking for Jerome Powell to reignite a rally came away disappointed after the Federal Reserve cut interest rates as expected but gave little away about the path ahead.
Treasuries inched higher, adding to gains clocked Thursday. The 10-year yield edged down two basis points to 4.31%, taking the drop this week to eight basis points. That’s the biggest decline since September on a closing basis and comes despite sharp losses triggered after Donald Trump was elected to the presidency.