United States Treasury yields dropped on Wednesday after underwhelming private sector data seemingly led to the impression that the Federal Reserve will not raise the federal funds rate in this rate-hiking cycle to avoid further damage to the economy and amid a potential decline in inflation.
The return on the 10-year Treasury note was down 13 basis points to 4.198% and the yield on the two-year note dropped nine basis points to 4.947% at 1:55 pm ET. The return on the 30-year bond decreased by 11.6 basis points to 4.295% at 1:56 pm ET.
