As investors anticipate the release of Fed meeting minutes and crucial data, the 10-year Treasury yield rises.

On Tuesday, the yield increased slightly as investors anticipated the release of the Federal Reserve meeting minutes and important economic data that were due to be published this week.

The 10-year Treasury yield increased by more than 2 basis points to 4.291%, surpassing its previous flat position of 4.25%.

An inverse relationship exists between yields and prices, with one basis point equivalent to 0.01%.

The Federal Reserve's latest meeting minutes are set to be released, and investors are considering the state of the economy and weighing the outlook for monetary policy as they look to upcoming data.

In a week with limited Fed official comments, investors will closely scrutinize the minutes for additional clues on interest rate changes. The Fed has cut rates twice this year, with the final meeting taking place on December 17-18.

The FedWatch Tool from CME Group indicated that traders were anticipating a 56% likelihood of rates being cut again, while there was a 44% chance of rates remaining unchanged.

The PCE, the Fed's preferred inflation measure, will be released before key inflation data, which could influence its monetary policy decisions.

As Treasury secretary, Scott Bessent's appointment by President-elect Donald Trump has alleviated any concerns about the future of the U.S. economy, as investors anticipate him prioritizing economic and market stability.