Treasury Yields Little Changed

The yield on the US 10-year Treasury note was little changed at 4.15% on Tuesday, following two consecutive sessions of gains, as traders focused on remarks from several Federal Reserve officials in the absence of new market catalysts.

The federal government shutdown extended into its seventh day, with no sign yet of an agreement between Democrats and Republicans on a funding plan to reopen agencies.

As a result, several economic data releases have already been delayed, including last week’s jobs report.

Despite the uncertainty, investors continue to price in another 25-basis-point rate cut later this month and are assigning nearly an 80% probability of a similar move by the Fed in December.