TREASURIES-US yields cuts losses after Fed cuts interest rates
BY Reuters | ECONOMIC | 11/07/24 02:19 PM ESTNEW YORK, Nov 7 (Reuters) - U.S. Treasury yields trimmed losses on Thursday after the Federal Reserve cut interest rates by 25 basis points, as widely expected, amid a cooling labor market, while noting that economic growth remained solid.
"Economic activity has continued to expand at a solid pace," the central bank's rate-setting Federal Open Market Committee said at the end of a two-day policy meeting. The FOMC lowered the benchmark overnight interest rate to the 4.50%-4.75% range. The decision was unanimous.
The benchmark 10-year yield reduced losses after the Fed decision. It was last down 7.9 bps at 4.349%
(Reporting by Gertrude Chavez-Dreyfuss)