The U.S. 10-year Treasury yield was relatively unchanged on Tuesday, the penultimate day of the year, as markets look toward minutes from the recent December Federal Reserve meeting.
The yield on the 10-year Treasury was flat at around 4.12% at 4.20 am ET. The yield on the 2-year Treasury dipped less than 1 basis point to 3.459%.
One basis point equals 0.01%. Yields and prices share an inverse relationship.
Investors are anticipating minutes from the Dec. 9–10 Fed meeting, scheduled for release at 2 p.m. ET, which will detail the decision to approve a quarter-point rate cut. The move brought the federal funds target range down to 3.50%-3.75%.
The third rate cut of the year had proved contentious, as some policymakers argued for additional easing to prevent further softening in the labor market, while others said policy was already sufficiently accommodative and risked fueling inflation.
