Fed Chair Jerome Powell
Federal Reserve Board Chairman Jerome Powell speaks during a news conference after a Federal Open Market Committee meeting on November 01, 2023 at the Federal Reserve in Washington, DC. The Federal Reserve left interest rates unchanged at a range of 5.25 percent to 5.50 percent, keeping rates the highest they have been in 23 years.
  • US stocks jumped Thursday as bond yields plunged on bets that the Fed has finished hiking.
  • The 10-year Treasury yield tumbled as much as 16 basis points, and the 30-year yield sank as well.
  • On Wednesday, the Federal Reserve kept rates steady for a second straight meeting.

US stocks jumped Thursday as bond yields continued to retreat from earlier highs after the Federal Reserve kept rates steady.