FRBが25ベーシスポイント利上げ、3.75%〜4%に、2023年以来の利上げ

Higher rates let Lincoln National reinvest maturing bonds and new annuity premium inflows at more attractive yields, boosting spread-based annuity income.

Reinsurance Group of America's significant spread-based annuity exposure and long-duration bond portfolio benefit from reinvesting at higher yields after the Fed hike.

Travelers' large investment portfolio could see a modest boost to investment income from higher rates, though P&C faces mixed cost pressure from energy inflation and tariffs.

The Fed raised the federal funds rate target range by 25bp to 3.75%-4%, directly lifting the effective federal funds rate.

The Fed's first rate hike since 2023 and signal of possible further increases push Treasury yields higher, lifting the 10Y yield.