Fed rate decision and policy guidance keep Treasury yields steady.

On Wednesday, U.S. Treasury yields remained unchanged, as investors waited for the Federal Reserve's meeting conclusion and sought insights on the interest rate outlook.

The yield on the decreased by less than one basis point to 4.1316% at 4:33 a.m. ET. The yield had previously been at 4.3584%, but dropped by less than one basis point.

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

The Fed meeting concludes on Wednesday, and investors anticipate the central bank's monetary policy statement and the post-meeting press conference with Fed Chair Jerome Powell.

The Fed's meeting and guidance may provide insight into policymakers' expectations for interest rates in the coming months, which many are hoping to gain.

While markets anticipate rates to remain unchanged within the 5.25% to 5.5% range this month, traders are pricing in a potential September rate cut and are eager for indications from the Fed on the likelihood of this happening.

The Fed has scheduled three more rate cuts for the central bank in 2024 after this month's meeting.

Nearly 11 years, the highest hiring rate was achieved by the Labor Department's Job Openings and Labor Turnover Survey, excluding data affected by Covid-19, on Tuesday. In June, job openings decreased to 8.18 million.

On Wednesday, ADP's private payrolls report, employment cost, and pending home sales figures will be released.