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U.S. Treasury yields moved lower on Tuesday as investors looked ahead to the Federal Reserve’s interest rate decision.

At 7:10 a.m. ET, the benchmark 10-year Treasury yield was down one basis point to 3.981%, while the 2-year Treasury note yield was less than a basis point lower at 3.492%. The 30-year bond yield fell more than 1 basis points to 4.554%.

One basis point equals 0.01% (1/100th of 1%) and yields and prices move inversely to one another.

Investors are anticipating the start of the two-day Fed meeting on Tuesday, as policymakers are widely expected to cut rates.

Traders are pricing in a nearly 98% chance that the overnight fed funds rate will fall to a range of 3.75% to 4.00% down from a range of 4.00% to 4.25% today, per the CME FedWatch Tool.

Fed Chair Jerome Powell’s speech which follows the interest rate decision announcement, will also be closely watched for clues about whether the central bank will cut again at its final meeting in December.

Meanwhile, as the U.S. government shutdown continues, investors are still dealing with an economic data blackout.

U.S. President Donald Trump and Chinese President Xi Jinping are due to meet on Thursday in South Korea. As both countries have agreed on a framework for a potential trade deal, investors are expecting that trade tensions will ease.