Treasury yields hold steady as investors weigh monetary policy outlook

U.S. Treasury yields remained unchanged on Thursday following the Federal Reserve meeting. The 10-year Treasury yield rose slightly to 4.5975%, while the 2-year Treasury yield increased by less than one basis point to 4.9393%. The Federal Reserve decided to keep interest rates unchanged but provided guidance on future rate decisions. Fed Chairman Jerome Powell stated that a rate hike would require evidence that the current policy stance is insufficient. Powell also expressed concern about inflation and uncertainty in its trajectory. The Fed also announced a slower pace of quantitative tightening, starting in June. Investors are now awaiting factory order, balance of trade, and jobless claims data. The April jobs report will be released on Friday.