The Federal Reserve opted not to raise interest rates during its policy meeting this week and pledged that future moves will be done patiently and with an eye toward how economic conditions unfold. In a statement Wednesday, the central bank voted unanimously to hold its policy rate in a range between 2.25 percent and 2.5 percent. The decision came along with a separate statement on the Fed's balance sheet indicating that policymakers will consider adjusting the reduction of the central bank's bond portfolio if conditions warrant. Officials in that statement also said they expect to operate with "an ample supply" of [...]

The yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 2.6720 percent, while the yield on the 30-year Treasury bond was also lower at 3.030 percent. The moves in pre-market trade come after the Federal Reserve adopted a more cautious tone in the previous session. The U.S. central bank said it would be "patient" with further interest rate hikes, signalling a potential end to its tightening cycle amid signs of a possible economic downturn. On Wednesday, the Fed held interest rates — as expected — and dismissed its promises of "further gradual increases" over [...]