Treasury yields fall ahead of Fed policy verdict

U.S. Treasury yields fell on Wednesday morning, ahead of the Federal Reserve's latest policy decision later in the day.

Blackbourn added that it would be important to keep an eye on what is said in the subsequent commentary from the meeting. He explained that when the Fed had previously announced more hawkish policy, it had tended to counterbalance this with more dovish commentary.

"It'll be interesting to see how much Chair Powell feels that he has to push that ... given that the way that markets are starting to price interest rates," Blackbourn said.Factory orders data for September is then set to be released at 10 a.m. ET.

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