Treasury yields feel pressure ahead of FOMC's rate decision

The United States Federal Reserve's two-day meet concludes today, and anticipation is high that the central bank will raise interest rates for the first time in three years. What is the date and time of the Fed announcement? The 12-member committee will announce its decision at 18:00 GMT or 11:30 pm IST on 16 September. Later Fed Chair Kevin Warsh will also address the media at midnight IST on 17 September. So, Indians may tune in for Warsh's speech around 11:30 pm today. The markets are pricing a better than 90% chance of a 25 basis-point hike from the US Fed, Bloomberg reported citing swaps data. According to CME's FedWatch tool quoted by AFP, the data fuelled market expectations of a rate hike at this week's meeting, with investors giving it a probability of more than 92%.