Treasuries were steady on Tuesday as investors awaited word from the Federal Reserve indicating whether it will continue to cut interest rates, after one more quarter point cut, as many investors expect.

The Fed is expected to reduce its benchmark interest rate by 25 basis points to 2 percent.

Investors will be looking closely at the Fed's statement after the meeting for clues about whether it is done cutting rates.

Two year treasuries were flat on Tuesday, yielding 2.362 percent. Ten year notes rose 2/32 to yield 23.823 percent.