Bond ETFs trade higher after Fed statement, Powell’s remarks

Treasury yields were falling on Wednesday afternoon

Shares of large exchange-traded funds that buy bonds were getting a lift after the Federal Reserve announced on Wednesday that it’s holding its benchmark interest rate steady as it keeps up its battle to bring down elevated inflation.

Shares of the iShares Core U.S. Aggregate Bond ETF AGG were up 0.9% on Wednesday afternoon as Treasury yields were falling, according to FactSet data, at last check. The yield on the 10-year Treasury note BX:TMUBMUSD10Y was down about 14 basis points at around 4.76%, while the two-year Treasury yield BX:TMUBMUSD02Y was trading 12 basis points lower at 4.94%.

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