U.S. Treasury yields fell slightly on Tuesday ahead of the key Federal Reserve decision on Wednesday.
The yield on the benchmark 10-year Treasury note fell 2.8 basis points to 1.544% at around 4:00 p.m. ET. The yield on the 30-year Treasury bond fell 1.1 basis points to 1.957%. 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.
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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.
An auction is scheduled to be held on Tuesday for $34 billion of 52-week bills.