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Treasury yields on track for weekly drop as U.S. rate fears subside

Treasurys gained ground Friday, leaving yields on track for a weekly decline after the Federal Reserve on Wednesday failed to signal a more aggressive approach to future rate moves. The yield on the 10-year Treasury note fell 1.8 basis points to 2.506%, according to Tradeweb, while the 2-year yield declined 0.7 basis point to 1.317%. The yield on the 30-year Treasury bond fell 1.6 basis points to 3.119%. Yields fall as debt prices rise. Yields fell sharply Wednesday after the Fed delivered a widely expected quarter point increase but continued to forecast a total of three rate increases in 2017. Heading into the policy meeting, yields had risen, with the 10-year topping 2.61%, after ending last week at 2.582%, on fears the Fed might signal the potential for a total of four rate moves.

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