U.S. stocks opened lower Wednesday, increasing pressure ahead of the Federal Reserve's afternoon rate decision, after oil jumped when Trump told Fox News the U.S. would strike Iran strongly in response to recent attacks in the Middle East. The 10-year Treasury yield rose to 4.62%, near this year's high; the 2-year climbed about 3bp to 4.30%, also close to its peak. Traders broadly want the Fed to signal the Iran-driven oil shock is likely temporary and that it will not rush to hike again this ye

U.S. stocks opened lower Wednesday, increasing pressure ahead of the Federal Reserve's afternoon rate decision, after oil jumped when Trump told Fox News the U.S. would strike Iran strongly in response to recent attacks in the Middle East. The 10-year Treasury yield rose to 4.62%, near this year's high; the 2-year climbed about 3bp to 4.30%, also close to its peak. Traders broadly want the Fed to signal the Iran-driven oil shock is likely temporary and that it will not rush to hike again this year; some say one additional hike would be reasonable to demonstrate the Fed's anti-inflation resolve and help calm the long end of the curve.