Short-term government-bond yields declined Wednesday afternoon after the Federal Reserve raised interest rates by 0.75 percentage point at its July meeting.
Most investors considered the Fed’s rate increase, which brought its target to a range of 2.25% to 2.5%, a foregone conclusion. But Treasury yields fell as Chairman Jerome Powell spoke to reporters after the meeting, with some traders perceiving leeway in his remarks for a less aggressive series of rate hikes to follow.
