The U.S. Treasury market is poised to begin its day with higher prices and lower yields. Yesterday afternoon’s announcement by the Federal Reserve that its Main Street Lending Program would be expanded to include more companies while easing restrictions on lending banks sparked a bond rally that continues this morning. The Ten-Year’s price is up almost a half-point and that has taken its yield down to around 82 basis points.

In an early morning announcement, the National Federation of Independent Businesses reported that its Small Business Optimism Index improved more than expected in May to 94.4 from 90.9. Analysts expected a positive move, but only to 92.5.

The FOMC begins its policy meeting today with Chairman Powell’s Press Conference scheduled for tomorrow afternoon. While no rate changes are expected, investors will be listening to make sure that the Fed has not altered its pledge to provide ongoing monetary support to markets and the economy, while also listening for clues as to what might come next.

In other markets, gold has gained about $15/ounce to around $1,715 while crude oil is basically flat at around $38.