(Opens U.S. market) By Herbert Lash NEW YORK, Sept 22 - U.S. Treasury yields were little changed on Wednesday as fears of imminent contagion from China Evergrande receded after it settled interest payments on a domestic bond and investors awaited word from the Federal Reserve later in the day. The People's Bank of China injected 90 billion yuan into the banking system, soothing fears of financial fallout from a default by the debt-laden Chinese property developer. The Fed is expected to unveil how it will taper its monthly asset purchases later this year and show in updated projections whether higher-than-expected inflation or a resurgent COVID-19 pandemic further weighs on the economy. A statement from a two-day meeting of the Fed's policy-setting committee is expected at 2 p.m. ET. The yield on the benchmark 10-year Treasury note was down 0.5 basis points at 1.319% as investors awaited the statement and remarks from Fed Chair Jerome Powell. The market consensus expects the Fed as soon as November to begin to reduce its Treasury purchases by $10 billion a month and mortgage-backed security purchases by $5 billion a month. The timeframe could be much slower that people expect, with the consensus view executed on a quarterly basis, not monthly, said Steven Ricchiuto, U.S. chief economist at Mizuho Securities USA LLC. "You need to make sure the system adjusts very slowly to the developments. There's a lot of concern on the committee that if they pull back too quickly, they will cause a problem," Ricchiuto said. The Fed likely will reduce its growth numbers for 2021 and next year, while raising its inflation target for the two years, Ricchiuto said. The unemployment rate target may also be raised a touch, but stagflation will not be part of the picture. "People will read a little bit of stagflation into the numbers, which I don't think is valid. Stagflation isn't possible in the world we live in," Ricchiuto said. A closely watched part of the U.S. Treasury yield curve measuring the gap between yields on two- and 10-year Treasury notes, seen as an indicator of economic expectations, was at 109.6 basis points. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was up 0.6 basis points at 0.222%. The breakeven rate on five-year U.S. Treasury Inflation-Protected Securities (TIPS) was last at 2.455%. The 10-year TIPS breakeven rate was last at 2.298%, indicating the market sees inflation averaging about 2.3% a year for the next decade. September 22 Wednesday 10:24AM New York / 1424 GMT Price Current Net Yield % Change (bps) Three-month bills 0.025 0.0253 0.000 Six-month bills 0.04 0.0406 -0.005 Two-year note 99-208/256 0.2221 0.006 Three-year note 99-190/256 0.4623 0.010 Five-year note 99-150/256 0.8358 0.007 Seven-year note 100-4/256 1.1226 0.000 10-year note 99-92/256 1.3192 -0.005 20-year bond 99-64/256 1.795 -0.011 30-year bond 103-96/256 1.8524 -0.005 DOLLAR SWAP SPREADS Last (bps) Net Change (bps) U.S. 2-year dollar swap 11.25 0.00 spread U.S. 3-year dollar swap 12.25 0.25 spread U.S. 5-year dollar swap 10.50 0.25 spread U.S. 10-year dollar swap 2.25 0.00 spread U.S. 30-year dollar swap -25.00 -0.25 spread (Reporting by Herbert Lash; Editing by Will Dunham)
Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting
- Madame Noire
Candace Owens Rips Alec Baldwin Apart In A Series Of Scathing Tweets About His Accidental Shooting Incident: ‘What Has Happened To Alec Would Be An Example Of Poetic Justice’
Candace Owens is back again in headlines for her unwarranted two cents and this time, Alec Baldwin is the culprit.
The 24-year-old head armorer of Alec Baldwin's movie 'Rust' told a podcast she 'almost didn't take' her last job because she wasn't sure if she was 'ready'
Hannah Gutierrez-Reed, 24, told podcast she almost turned down the head armorer job in a recent project due to self-doubt about her experience.
The former guy had a meltdown over his once-favorite network for running ads critical of him.
- Rolling Stone
EXCLUSIVE: Jan. 6 Protest Organizers Say They Participated in ‘Dozens’ of Planning Meetings With Members of Congress and White House Staff
Two sources are communicating with House investigators and detailed a stunning series of allegations to Rolling Stone, including a promise of a “blanket pardon” from the Oval Office
Angelina Jolie has been bringing her children to the different premieres for her Marvel Cinematic Universe film Eternals, first in Los Angeles, now in Italy.
According to royal experts and correspondents, the Palace was "misleading" about the Queen's recent hospitalization.
Raw video of damage in North Bay as storm rips through the Bay Area
- Hello Beautiful
Draya Michele stepped out for Drake's birthday party rocking a super sexy Lace by Tanaya chain skirt and we can't stop thinking about the jaw-dropping look!
- Kansas City Star
Chiefs quarterback Patrick Mahomes acknowledged what’s become clear this season: He’s pressing.
- LA Times
Heavy rain in Northern California unleashed mud and debris flows and shut down at least one critical highway by Sunday morning.
- The New York Times
FRANKLIN, Tenn. — For decades, when Hewitt Sawyers drove past the monument of the Confederate soldier standing tall in his city’s public square, he felt the weight of slavery’s long shadow. Sawyers, 73, had attended a segregated school in Franklin, about 20 miles south of Nashville. He read from torn books passed down from the local white high school. The courthouse offered a “colored” water fountain, and the movie theater did not welcome him on the lower floor. As Confederate monuments across t
- Yahoo Life
"Welcome to Scorpio [season]," the actress quipped days ahead of her 49th birthday.
- USA TODAY Sports
Oklahoma won at Kansas, but the performance dropped the Sooners two spots to No. 4 in the USA TODAY Sports AFCA Coaches Poll. Georgia stayed No. 1.
- Men's Health
Gym footage shows what happened when Thor tested out his hook on unified lightweight world champion Teófimo López
- Town & Country
King Constantine and Queen Anne-Marie confirmed that their youngest son, Prince Philippos of Greece and Denmark, is engaged to be married.
- MMA Junkie
"The Last Emperor" isn't done yet.
- Bears Wire
This might be the loss that ends the Matt Nagy era in Chicago.
- Touchdown Wire
A massive storm is pushing into California. Just in time for "Sunday Night Football."
Brian Laundrie's remains, discovered at a Florida nature reserve on October 21, will be cremated and given to his parents.
- The New York Times
NOTTINGHAM, England — Lizzie Wilson was standing in a crowded nightclub Monday night with three friends when she felt a sharp pinch in her back, as if she had been pricked by a needle. Ten minutes later, she was struggling to stand. Wilson, 18, said she had heard about young women being injected with syringes at crowded clubs and immediately feared she was another victim. Her friends rushed her to the hospital, where she spent hours disoriented and without sensation in her legs. “Nobody should e