U.S. government debt prices were lower Tuesday, following a rally for fixed income assets amid concerns over the Chinese coronavirus.
's first meeting of the year on Tuesday, with the U.S. central bank's two-day meeting widely expected to keep interest rates unchanged.
The Federal Open Market Committee held the target range for the federal funds rate at 1.5-1.75% in December, following three consecutive rate cuts. On the data front, durable goods for December will be released at 8:30 a.m. ET. S&P/Case-Shiller home prices for November, consumer confidence for January, Dallas Fed services for January and the latest Richmond Fed survey will all follow slightly later in the session.
The U.S. Treasury is set to auction $26 billion in 52-week bills, $32 billion in seven-year notes and $20 billion in two-year floating-rate notes .
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