Treasury futures steadied as 10-Year yield slipped post-FOMC.

Treasury futures stabilized as the 10-Year Treasury Note yield slipped 3 basis points to close at 4.45% following a hawkish FOMC announcement. While the Federal Reserve signaled potential additional rate hikes extending into 2026 and 2027, back-end yields remained anchored within a tight 7-basis-point range. In contrast, short-end yields moved higher, driving the 2-Year/10-Year yield curve to flatten to its lowest level in over a year. Meanwhile, market volatility dropped, with the Treasury CVOL index hitting a 6-month low. Looking ahead to next week, the market faces a dense calendar featuring 2-Year, 5-Year, and 7-Year Treasury auctions, alongside the release of the PCE price index-the Fed's preferred inflation gauge-and a return of public commentary from central bank speakers.