The long-duration Treasury selloff takes a break, sending the 10-year yield down to 2.953% from Monday’s 2.995%. The two-year, in turn, rises to 2.744% from 2.729%. “Yields are steady to lower as investors continue to search for clues on the Fed’s tightening plan,” Spartan’s Peter Cardillo says in a note to clients. The FOMC is expected to raise rates by a steep 50-basis point tomorrow and lay down the rules for monetary tightening, while some investors are already talking about a possible 75 b.p. hike in June.