U.S. Treasury yields were broadly flat on Tuesday morning after reaching fresh highs in the previous session, as investors awaited the release of minutes from the Federal Reserve’s last meeting. The 10-year Treasury yield hit its highest level since April 2002 on Monday, while the 30-year yield also reached levels not seen since May 2002. The ISM services price index rose 1.4 points to 74 in September. According to the CME Group’s FedWatch tool, markets are pricing in a 78% probability that the Fed will keep rates unchanged at its next meeting. The FOMC minutes from the September meeting will be released on Wednesday, with investors parsing them closely for clues about future monetary policy.
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