Bond Report: 2-year Treasury yield drops from 17-year high with Fed decision due

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Treasury yields slipped Wednesday morning as traders eyed the Federal Reserve’s policy announcement later in the session.

What’s happening

What’s driving markets

The 2- and 10-year yields remained not far from their highest closing levels since 2006-2007 as investors await the Federal Reserve’s policy decision, economic projections, and interest-rate forecasts due at 2 p.m. Eastern time. Fed Chair Jerome Powell will hold a press conference, starting at 2:30 p.m. Investors, traders and strategists said they…