Treasuries Rally as Fed Lowers Outlook for Interest-Rate Rise

From bloomberg.com

Treasuries rallied, sending benchmark 10-year yields below 2 percent, after the Federal Reserve lowered its estimates for interest rates and economic growth. The central bank said it will need to see more gains in the jobs market and gain confidence that inflation is rising, even as it dropped its pledge to be “patient” in is its approach to a less-stimulative monetary policy. Fed Chair Janet Yellen, during a news conference in Washington, didn’t rule out a June interest-rate increase. “This is a very positive statement for the bond market because it says the Fed will move extremely slowly if and when it does ... (full story)