10-year Treasury yield falls as Fed meeting is due to begin [tciUYGzLxBd]
U. S. Treasury yields were lower on Tuesday as investors awaited fresh economic data and as the Federal Reserve's latest monetary policy meeting is set to begin. At 4:21 a.m. ET, the yield on the 10-year Treasury was down by over three basis points to 4.0586%. the 2-year Treasury yield was last less than one basis points lower at 4.3180%. Yields and prices have an inverted relationship and one basis point equals 0.01%. The Fed's January meeting is due to kick off Tuesday and conclude with a fresh interest rate decision and guidance on the outlook for monetary policy on Wednesday. Markets are widely expecting the Fed to leave rates unchanged and investors are hoping to gain some clarity on when and by how much rates may be cut this year. At the Fed's last meeting in December, policymakers indicated that they were expecting three rate cuts in 2024, but minutes from the meeting showed that the path ahead for monetary policy remained highly uncertain. Traders were last pricing in an almost 50-50 chance of rates being held steady or being cut at the next Fed meeting in March, according to CME Group's FedWatch tool. Various key economic data points are also slated for the week and are set to provide hints about the state of the economy, especially the labor market. On Tuesday, December's JOLTs job openings report is expected, as is the latest consumer confidence report. Later in the week, ADP's private payrolls report and the U. S. Labor Department's jobs report for January are expected. All data is taken from the source: Article Link: #newsusa #newstodayheadlines #newstodaylocal #usnewsworldreport#newsworldnow #newsworldabc #