The Federal Reserve is set to announce its latest interest rate decision on Wednesday, marking the second policy meeting under Chair Kevin Warsh.
With inflation remaining elevated in the United States, markets are broadly pricing in a hold on rates, though the central bank's forward guidance will be closely scrutinized for signals on the path ahead.
US Treasury yields are expected to remain volatile as traders digest the outcome.
The 10-year yield, a key benchmark for global borrowing costs, has been sensitive to shifts in rate expectations, while the 2-year yield remains tightly linked to immediate Fed policy signals.
Any deviation from the consensus expectation of a pause could trigger sharp repricing across the curve.
The decision comes as policymakers evaluate the current economic outlook against a backdrop of persistent price pressures.