Jan 28: FOMC decided to keep its target range for the federal funds rate at 0 to 1/4 percent, lowest since 1990 when Fed began publishing the rate. Voting against was Jeffrey M. Lacker, who preferred to expand the monetary base at this time by purchasing U.S. Treasury securities rather than through targeted credit programs. The Committee is prepared to purchase longer-term Treasury securities if evolving circumstances indicate that such transactions would be particularly effective in improving conditions in private credit markets
FOMC: Economic conditions are likely to warrant exceptionally low levels of the federal funds rate for some time
So, why is the market moving yields on long dated Treasury bonds UP!!
10:48 am today 10yr treasury yield is 2.687% up 0.023%
30yr treasury yield 3.436% up 0.018%