U.S. Treasurys were little changed on Tuesday as investors weighed the path ahead for Federal Reserve monetary policy and looked to upcoming economic reports.
Yields and prices move in opposite directions. One basis point equals 0.01%.
Investors considered what could be ahead for interest rates and when the Fed may hike rates again. At the conclusion of its latest policy meeting, the central bank left rates unchanged but said it expected one further rate hike this year. Two Fed meeting remain this year.Sign up for NBC LA newsletters.
The central bank also adjusted its forecast for rate cuts, signaling that rates will likely stay higher for longer as the economy has shown resilience and inflation remains too high even as price pressures have somewhat eased. Key inflation data is expected Friday in form of the personal consumption expenditures price index, which is a key economic indicator for the Fed.as Congress remains divided over a spending bill. Lawmakers must come to an agreement to ensure that the government remains funded for the rest of the fiscal year, or a shutdown could happen as early as Oct. 1.
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