U.S. Treasury yields held steady on Wednesday, as investors awaited economic data and the Federal Reserve's latest interest rate decision and monetary policy guidance.yield was last at 5.0373% after dipping by around one basis point, holding above the 5% mark it crossed Tuesday.Investors looked ahead to the conclusion of the Federal Reserve's latest meeting and considered key economic data.
The Fed is widely expected to keep rates unchanged, and investors are hoping that officials will provide fresh signals about the potential path ahead for interest rates. Uncertainty has grown in recent weeks about the possibility, number and timing of interest rate cuts this year. Economic data has suggested resilience from the economy and sticky inflation, while Fed officials have said there is no rush to cut rates and reiterated that they would do so only once they are convinced that the economy is easing sustainably.
Expectations for when rates will be cut have been moving backwards consistently since the start of the year. Traders were initially pricing in a first rate reduction in June, which was then projected to take place in September, before expectations declined in recent days. According toFresh job openings data, as well as the ADP private payrolls report, are also due out on Wednesday. These come ahead of the April jobs report on Friday.