10-year Treasury yield drops below 2%

• As the Fed spreads its dovish wings, the yield on the benchmark 10-year Treasury dropped below 2% overnight for the first time since November 2016.
• The FOMC left interest rates unchanged at its monetary policy meeting on Wednesday, dropped the word "patient" from its statement and said it would "act as appropriate" to sustain the economy.
• The news is also boosting U.S. stock futures premarket, with the DJIA indicating gains of 141 points at the open and the fed funds futures pointing to a 100% chance of monetary policy easing in July.