Markets quiet after FOMC; await Yellen

|By:, SA News Editor

Ten-year Treasury yields are whipping around a bit, but are currently about as they were ahead of the Fed announcement, down three basis points on the session at 2.62%. The shift in dots, however, showing a slightly earlier/faster pace of rate hikes has 2015 and 2016 Eurodollar futures lower by 2-3 points (suggesting a higher Fed Funds rate).

TLT +0.6%, TBT -1.2%

Stocks are slightly higher than they were pre-announcement, the S&P 500 (SPY+0.3%.

Gold shows little reaction, up $1.50 per ounce to $1,273.50. GLD +0.25%

The dollar (UUP -0.2%), (UDN) remains as it was before the announcement.

Previously: Fed lowers 2014 GDP projection, but 2015 and 2016 hold

Previously: Fed sees slightly faster pace of rate hikes

Janet Yellen's press conference begins at 2:30 ET.