U.S. Treasury yields rose on Thursday after the Federal Reserve kept interest rates unchanged and indicated that just one cut is expected before the end of the year.
The rate on the 10-year Treasury rose more than 2 basis points to 4.316% at around 4:45 a.m. ET. The benchmark note briefly dipped as low as 4.25% at one point in the previous session, notching its lowest level since April 1.
The 2-year Treasury yield was also higher by nearly 2 basis points at 4.768%. Yields and prices move in opposite directions and one basis point is equivalent to 0.01%.
The Fed on Wednesday held rates steady at 5.25%-5.50% and suggested it would lower rates just once later this year, down from three rate cuts forecast in March.
The U.S. central bank indicated slight optimism that inflation remains on track to trend back toward the Fed’s 2% goal, allowing for some policy loosening over the coming months.
“Inflation has eased over the past year but remains…
