Treasury yield curve flattens ahead of the Fed rate decision

The long duration treasury yields dropped in Asia, thus leading to a flatter treasury yield curve ahead of the Fed rate decision.

At the time of writing, the yield on the benchmark 10-year Treasury note was down 2.5 basis points to 2.455%. The 30-yr yield was down 2.6 basis points at 3.119%.

Meanwhile, at the short-end of the curve, the 2-yr yield was largely flat around 1.161%.

The resilience at the short-end of the curve is hardly surprising, given the fact that the Fed is widely expected to hike rates by 25 basis points today and signal two more rate hikes in 2017.