Treasuries Rise on Fed Announcement

Treasuries rise modestly on Fed announcement. Treasury futures staged a rebound this afternoon, as there were few surprises in the FOMC announcement. As expected, the Fed kept the federal funds rate steady at 5.25%. In its statement released just after the rate announcement, the Fed was more upbeat about the economy, saying it should expand "at a moderate pace" in coming quarters, in contrast with its statement after the December 12th meeting in which it put forth the assessment that US growth had "slowed" due to "substantial cooling" in housing. Read More....