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Treasury yields, dollar fall, US stocks fluctuate after Fed rate hike decision

LiveMint logoLiveMint 14-06-2017 Dani Burger

New York: Treasury yields fell with the dollar while US stocks fluctuated after the Federal Reserve raised rates as expected and stuck to its forecast for an additional hike this year.

The 10-year Treasury note yield held at the lowest since November, and the greenback weakened versus major peers—both had declined earlier after inflation data came in below forecasts. Fed officials saw near-term risks as “roughly balanced.” US stocks remained mixed near record levels. Oil tumbled below $45 a barrel in New York.

Policy makers agreed to raise their benchmark lending rate for the third time in six months, maintained their outlook for one more hike in 2017 and set out some details for how they intend to shrink their $4.5 trillion balance sheet this year. Chair Janet Yellen will hold a press conference at 2:30 pm.

Central banks in Japan, Switzerland and Britain are also scheduled to weigh in with policy decisions this week. Investors have reined in expectations for a Bank of England interest-rate increase after the election shock.

Markets largely ignored a shooting that wounded the third-highest ranked US House Republican and at least four others at a congressional baseball practice in Alexandria, Virginia. The gunman later died from injuries in a shootout with police. Bloomberg

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