Fed Rate Pause Sends Yields Soaring to Two-Decade High

Asian stocks are poised to decline following the Federal Reserve's decision to keep interest rates unchanged for a seventh month, according to Bloomberg.

The uncertainty over the Fed's policy outlook has pushed US 30-year yields to their highest levels in almost two decades, resulting in declines in longer-maturity Treasuries and Asian bonds.

Australia, New Zealand, and Japan's thirty-year government bonds have come under pressure after similar-dated US yields jumped following the Fed's decision to leave interest rates unchanged. The Treasury 30-year climbed three basis points on Thursday to 5.23%, the highest since 2007, extending an 11-basis-point jump following the Fed decision.