US 10-Year Yield Holds Steady Ahead of Fed Meeting

The yield on the 10-year US Treasury note hovered around 4.4% on Tuesday, marking its fourth straight session of little movement as investors awaited the Federal Reserve’s policy decision. The Fed is widely expected to keep interest rates unchanged on Wednesday, though markets will be closely watching for any signals pointing to a potential rate cut in September. Focus will also be on the upcoming Personal Consumption Expenditures report—the Fed’s preferred inflation gauge—for clues on how tariffs may be impacting price pressures. A slew of labor market data is also on tap this week, culminating in Friday’s closely watched monthly jobs report. Meanwhile, trade developments continued to draw attention after the US and European Union reached a weekend agreement that imposes a 15% tariff on most EU exports. The deal is viewed as disproportionately favoring the US economy.