Do you know that when Treasury yields go up, prices go down? Today, the 10-year Treasury note was barely changing, sitting around 4. 39%. Meanwhile, the 2-year Treasury note wasn't moving much either, hanging around 4. 21%. This happened right before the Federal Reserve makes its decision about interest rates.

Investors are waiting for the Fed's decision at 2 p. m. ET today. They're guessing the Fed will lower rates for the third time in a row. So far, the Fed has dropped rates 75 basis points since September. That's just a fancy way of saying they've cut rates by 0. 75%.

After the decision, Fed Chair Jerome Powell will have a chat with the press. He might give clues about what the Fed thinks about the economy and where interest rates are headed next. Plus, the Fed will release its latest predictions for inflation, unemployment, and economic growth.

You might be wondering, what's inflation got to do with Treasury yields? Well, inflation can affect prices and, in turn, what Treasury yields do. That's why investors are curious about the Fed's thoughts on it.

In other news, the European Central Bank just lowered rates again. And the Bank of England is about to announce its own rate decision tomorrow. Back home, we'll also see some housing data coming out today.

What's Up with Treasury Yields Before the Fed's Next Move?

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