U.S. Treasury yields held steady on Tuesday as the Federal Reserve’s monetary policy meeting is scheduled to begin, with policymakers widely expected to announce an interest rate cut at its conclusion.
At 3:03 a.m. ET, the yield on the 10-year Treasury yield was down by less than one basis point to 3.6194%. The 2-year Treasury yield was last less than one basis point lower to 3.5506%.
Yields and prices move in opposite directions. One basis point equals 0.01%.
All eyes are on the Federal Reserve this week, with an interest rate cut from the central bank all but guaranteed. The decision will be announced on Wednesday when its two-day meeting ends. This would be the first rate reduction since the Fed began hiking interest rates in March 2022.
Investors will also be looking out for clues about the outlook for interest rates, especially if any further cuts could come this year. After this week’s meeting, two more remain on the schedule for…
