Bond Report: 10-year U.S. government bond yield extends decline to set fresh 15-month low

Treasury yields fell Thursday, extending a sharp weekly decline after the Federal Reserve meeting sparked a sharp rally across global bond markets.

The 10-year Treasury note yield TMUBMUSD10Y, -0.21% fell 2.5 basis points to 2.512%, acarving out a new 15-month nadir, while the shorter 2-year note yield TMUBMUSD02Y, -0.01% was down 1.2 basis points to 2.388%, a three-month low. The 30-year bond yield TMUBMUSD30Y, -0.24% ticked lower by 1.5 basis points to 2.960%. Bond prices move in the opposite direction of yields.

The Federal Reserve’s March policy decision continued to send tremors as analysts highlighted the overwhelming dovish message sent out by the central bank’s cut to its interest-rate projections from two hikes to none.

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