Summary Box: Speculation has been building that the Fed may push for lower long-term rates

Summary Box: Treasury traders look to Fed meeting

FED WATCH: Bond traders are looking forward to the Federal Reserve’s meeting on Tuesday. They’re speculating on whether the Fed will announce a plan to add more Treasurys to its balance sheet with the aim of lowering long-term borrowing rates.

LAST TIME: At its August meeting, the Fed said the economic expansion looked sluggish and decided to replace expiring mortgage bonds it owns with Treasurys.

TREASURY YIELDS SLIP: The benchmark 10-year yield slipped to 2.70. The price climbed 31.25 cents to $99.28.