CNBC reports that U.S. Treasury yields fell, ahead of the Fed policy decision. The yield on the benchmark 10-year Treasury note fell by 2 basis points to 1.53%. The yield on the 30-year Treasury bond gave up 2 basis points, falling to 1.94%.
The Fed is widely expected to announce that it will start winding down its $120 billion monthly bond-buying program, in the first step to paring back its emergency economic stimulus measures.
Oliver Blackbourn, portfolio manager at Janus Henderson, said that it would be important to keep an eye on what is said in the subsequent commentary from the meeting. He explained that when the Fed had previously announced more hawkish policy, it had tended to counterbalance this with more dovish commentary.
Prior to that, ADP’s October employment change report is due out at 12:15 GMT. Factory orders data for September is then set to be released at 14:00 GMT.