Treasury yields slipped on Tuesday as the Federal Reserve's two-day monetary policy meeting started.
The yield on the 10-year Treasury was down seven basis points at 4.398%. The 2-year Treasury yield was last at 4.83% after falling by nearly six basis points.
Yields and prices move in opposite directions. One basis point equals 0.01%.
The Fed is widely expected to keep interest rates at their current range of 5.25%-5.5% this month, with the first rate cut being priced in for later this year. Investors will likely be watching the central bank's economic projections, which will be issued at the conclusion of the Fed's meeting on Wednesday alongside its interest rate decision.
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Traders will also watch Fed Chair Jerome Powell's press conference on Wednesday afternoon, seeking further insight into policymakers' perspectives on the economy.
Also on Wednesday, May's consumer price index reading will be released, followed by the producer price index on Thursday.
Traders are hoping for evidence of a cooling economy, as that may influence the timing of the Fed's expected rate cuts.
