The US Treasury market focuses on the Federal Reserve meeting and Treasury auctions as traders bet on interest rate cuts by year-end.

```htmlGolden Ten Data reported on April 27 that as tensions in the Middle East drive up oil prices, US Treasury market traders are closely watching this week’s Federal Reserve meeting to assess officials’ views on the inflation outlook. The market generally expects the Fed to keep interest rates unchanged on Wednesday, but traders tend to believe a rate cut is still likely before the end of the year. Swap market data on Friday showed the probability of a rate cut before year-end had risen to about 40%. This trend could pave the way for Kevin Warsh, nominated by Trump, to lead the Federal Reserve in the future and implement more accommodative policies. Against this backdrop, traders will be listening carefully to current Chairman Powell’s remarks at the post-meeting press conference to obtain the latest information about his plans after his term ends in May next year. Meanwhile, a series of US Treasury auctions—including 2-year and 5-year notes—will take place this week to test market demand at current yield levels.```