U.S. Treasury yields were mixed on Tuesday morning, with the Federal Reserve’s latest policy meeting due to kick off later in the day.
The yield on the benchmark 10-year Treasury note fell 1 basis point to 1.5611% at 4:30 a.m. ET. The yield on the 30-year Treasury bond rose less than a basis point to 1.9770%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
The Fed’s two-day meeting will conclude on Wednesday afternoon, followed by a press conference, in which Chairman Jerome Powell will give more detail on the central bank’s plans for monetary policy.
The Fed is expected to announce that it will begin winding down its $120 billion monthly bond buying program, as part of a normalization of monetary policy.
Meanwhile, key jobs data is also due out this week, with the latest ADP employment change report set to be released on Wednesday and the nonfarm payrolls reported slated to come out on Friday.
On Tuesday, the November IBD/TIPP economic optimism index is set to be released at 10 a.m. ET.
An auction is scheduled to be held on Tuesday for $34 billion of 52-week bills.
