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Market Extra: Treasury yields hold ground as traders await Fed’s Powell

Treasury yields struggled for direction on Wednesday as traders awaited a speech by Federal Reserve Chairman Jerome Powell who may touch on the outlook for rate hikes in 2019.

The 10-year Treasury note yield TMUBMUSD10Y, +0.15% was flat at 3.057%, while the 2-year note yield TMUBMUSD02Y, +0.00% was up 0.4 basis point to 2.835%. The 30-year bond yield TMUBMUSD30Y, +0.02% fell 0.9 basis point to 3.311%. Bond prices move inversely to yields.

The highlight for market participants will be Powell’s speech at noon Eastern. Some investors have called for the central bank to pause to its rate increases after the December meeting to forestall further stumbles in the stock market, but analysts say ultimately strong U.S.

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