bond yields rose on tuesday as traders jostled for position ahead of the fed’s rate decision midweek benchmark treasury yields are higher early tuesday as traders await monetary policy decisions this week from the central banks of the us eurozone and japan markets are pricing in a 989 probability that the fed will raise interest rates by 25 basis points to a range of 525 to 550 after the conclusion of its meeting on wednesday according to the cme fedwatch tool the chances of a further 25 basis point hike to a range of 55 to 575 after the september or november meetings are priced at 187 and 324 respectively the central bank is not expected to take its fed funds rate target back down to around 5 until may 2024 according to 30day fed funds futures us economic updates set for release on tuesday include the sp caseshiller home price index for may due at 9 am and july consumer confidence at 10 am both times eastern what are analysts saying