Investors and markets await the Federal Reserve's interest-rate decision.
The Treasury Borrowing Advisory Committee said demand for its bond sales 'may have softened among several traditional buyers,' and that it's seeing 'early evidence of waning demand' at bond auctions. It said investors may now require additional yield—or “term premium”—to hold longer-term debt.
Here's who's stepping back, according to the Treasury Department's latest quarterly borrowing plans: Banks: Treasury holdings are down $154 billion from a year ago. Foreign central banks: A strong greenback means some central banks could sell Treasurys to prop up their currencies. Investors: The Treasury heard that many investors didn't expect the 10-year yield to rise beyond 4.25%, its high from last year.
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