Market Comment | Yields decline as FOMC adheres to its strategy of gradual normalization

Summary

As expected, the FOMC raised the Fed Funds rate by 25 bps to the 0.75%-1% range (see).  With its outlook unchanged, it seems that the committee will adhere to its strategy of gradual normalization (two additional rate increases this year). Despite the hike, both the USD and Treasury yields declined, suggesting that the market had […]

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