U.S. Treasury yields were little changed on Tuesday as investors looked to economic data from the labor market and the Federal Reserve’s July meeting.
The yield on the 10-year Treasury was down by less than one basis point to 4.171%. The 2-year Treasury was last at 4.394% after rising by less than one basis point.
Yields and prices move in opposite directions. One basis point equals 0.01%.
The Fed’s July meeting begins Tuesday and concludes Wednesday with a monetary policy announcement and press conference by Fed Chairman Jerome Powell.
Markets are widely expecting interest rates to be left unchanged by the central bank this week, but many investors are hoping that policymakers will give fresh hints about the outlook for rates. That includes when rates may be cut, and how many cuts could take place this year. Traders were last pricing in a 100% chance of a rate cut at the Fed’s next meeting in September, CME Group’s FedWatch tool…
