Treasuries gave back some gains on Tuesday, with the yield on the 10-year note rising to 4.551 percent. Traders are preparing for the Federal Reserve’s policy announcement on Wednesday, where rates are expected to remain unchanged. Economic data showed a drop in durable goods orders in December, but excluding transportation, orders rose slightly. Consumer confidence also decreased in January. Traders are cautious ahead of the Fed’s announcement, with expectations of lower rates by June. Early trading on Wednesday may be quiet as investors await the Fed’s decision.

Read more at Nasdaq: Treasuries Show Modest Move Back To The Downside