Bussiness
Treasury yield fall as Fed meeting kicks off
U.S. Treasury yields fell on Tuesday as the Federal Reserve meeting is set to begin, with investors awaiting the central bank’s monetary policy decision and key economic data.
At 5 a.m. ET, the yield on the 10-year Treasury was down four basis points to 4.4256%. The 2-year Treasury yield was last at 4.8488% after falling by more than three basis points.
Yields and prices move in opposite directions. One basis point equals 0.01%.
Treasurys
| TICKER | COMPANY | YIELD | CHANGE |
|---|---|---|---|
| US1M | U.S. 1 Month Treasury | 5.375% | +0.015 |
| US3M | U.S. 3 Month Treasury | 5.395% | +0.02 |
| US6M | U.S. 6 Month Treasury | 5.372% | -0.005 |
| US1Y | U.S. 1 Year Treasury | 5.168% | -0.02 |
| US2Y | U.S. 2 Year Treasury | 4.847% | -0.038 |
| US10Y | U.S. 10 Year Treasury | 4.434% | -0.035 |
| US30Y | U.S. 30 Year Treasury | 4.57% | -0.025 |
The June Federal Reserve meeting is set to begin Tuesday, before concluding with the central bank’s latest interest rate decision and policy guidance on Wednesday.
The Fed is widely expected to keep interest rates unchanged this month, with the first rate cut being priced in for later this year. Questions remain about when this cut could take place and if it will be followed by more cuts. Investors will be closely watching comments and guidance from the Fed for fresh hints about the policy outlook.
Also on Wednesday, the consumer price index for May is due to be released. It will be followed by the month’s producer price index on Thursday. Many investors will be hoping for the data to show that the economy is cooling, as this could suggest the Fed will cut interest rates sooner.
Investors have long been hoping for interest rate cuts to begin as concerns about elevated rates leading the U.S. economy into a recession have persisted, even as the economy has appeared resilient. Investors will therefore also be closely following economic projections released by the Fed on Wednesday alongside its interest rate decision.
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