Yields Higher as Some Begin Talking about More Hawkish Dot Plot

US Treasury prices weakened, sending yields higher, whilst the greenback was range-bound, as the market awaits the FOMC meeting. With a 25-bps rate hike a done-deal, the market now focuses on the likelihood that another hike would be implemented in June and whether there would be more hawkish changes in the dot plot. 10-year US Treasury yields are back above 2.60% (added +3 points to settle at 2.617%) and 2-year yields added +1 points to 1.376%. It appeared that long dated corporate issuance was a key driver of the rise in yields. Wall Street was mixed. Besides the FOMC minutes meeting, investors were cautious over the Netherlands general election, as well as Scotland's potential second referendum to leave the UK. DJIA slipped -0.1% whilst S&P 500 added +0.04%.