The yield on the US 10-year Treasury note was little changed around 3.98% on Wednesday as investors awaited the Federal Reserve’s policy decision, with markets widely expecting a quarter-point rate cut. Traders will focus on comments from Chair Jerome Powell for signals on the pace of future easing, with another reduction in December already priced in. Meanwhile, the ongoing US government shutdown entered its fifth week, delaying key economic data releases vital for shaping monetary policy and market expectations. Investors also looked ahead to the meeting between US President Donald Trump and Chinese President Xi Jinping on Thursday, where they are expected to finalize a framework that could halt planned US tariff increases and China’s rare earth export restrictions.
