Bonds
Stronger US economic outlook drives FOMC and bond gains
20th Mar 14, 8:30am
by
By Raiko Shareef
US Treasury yields advanced ahead of the FOMC meeting this morning, and doubled their gains upon the release.
The US 10-year government bond yield was 4 bps higher for the day before the FOMC announcement, and is now a further 4 bps higher at 2.76%.
The slightly firmer US economic outlook espoused by the Fed drove these gains.
In New Zealand, it was a quiet day in the local rates markets, as traders exhibited caution ahead of the main risk events of the FOMC and NZ GDP today.
The 2-year swap yield closed 1 bp lower at 4.03%.
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