SAN FRANCISCO (MarketWatch) — Treasury prices rose Thursday, pushing yields down for the first day in four, ahead of the Federal Reserve’s decision whether to buy more bonds or say it will keep interest rates lower into 2015.
“The Fed has done everything to lead us to the large-scale asset purchase trough and we’d be surprised if the Fed left us with no water to drink from later today,†said Bill O’Donnell head of Treasury strategy at RBS Securities.
Yields on 10-year notes (ICAPSD:10_YEAR) , which move inversely to price, fell 3 basis points to 1.73%. On Wednesday, they closed at their highest level since Aug. 21, according to FactSet.
“The Fed has done everything to lead us to the large-scale asset purchase trough and we’d be surprised if the Fed left us with no water to drink from later today,†said Bill O’Donnell head of Treasury strategy at RBS Securities.
Yields on 10-year notes (ICAPSD:10_YEAR) , which move inversely to price, fell 3 basis points to 1.73%. On Wednesday, they closed at their highest level since Aug. 21, according to FactSet.