10-Year Treasury Yield at 4.93% as 2s10s Flattens to 26bp
The Federal Reserve raised its policy rate on Wednesday and the 30-year Treasury yield went down. Nothing broke. The hike did not lift the curve, it pivoted it: two-year par yields rose seven basis points to 4.74% while the 30-year slipped a basis point to 5.35%, according to the U.S. Treasury daily par yield curve
