US Treasury Yields climb as market awaits Federal Reserve statement

The US 10-year Treasury yield hit a new 13-month high on Wednesday as the market awaited the Federal Reserve's latest policy statement for clues on the central bank's stance on interest rates.
 

The benchmark yield surged to 1.676%, the highest level since February 2020. It was last up 2.8 basis points at 1.6515%.
 

The 30-year bond yield jumped to 2.429%, the highest since November 2019. It was last up 2.1 basis points at 2.4117%.
 

Federal Reserve officials are due to issue new economic projections after their two-day meeting ends later on Wednesday.
 

Kathy Jones, chief fixed income strategist at the