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US treasury yields decline after Fed minutes

FXStreet (Mumbai) - The US 10-year and the 2-year treasury yield declined after the Federal Reserve (Fed) minutes revealed policy makers are in favor of a “slow lift-off” from the record low interest rates.

The minutes also show policymakers are in favor of a gradual increase in the interest rates. Policymakers also appear concerned about the disinflationary impact of the strength in the US dollar. Following the release of the minutes, the two-year treasury yield has declined to 0.48% while the ten-year yield is somewhat resilient, hovering around 2.35%.

The sharp decline in the two-year yield, a barometer of short-term interest rate expectations indicates that the bond markets are pricing-in a delay in the interest rate hike.

Two-year Yield technical level

The yield has a strong support of 0.463% (August 22 low) while the resistance is located at 0.484%.

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