HomeUSATreasury yields tick higher as traders prepare for inflation

Treasury yields tick higher as traders prepare for inflation

U.S. Treasury yields ticked slightly higher on Wednesday as traders prepared for key inflation figures.

The 10-year Treasury yield rose less than a basis point to 2.9632% by 2:30 a.m. ET. The yield on the 30-year Treasury bond traded 2 basis points higher at 3.1576%. Yields move inversely to prices, and a basis point is equal to 0.01%.

June’s consumer price index, scheduled for release Wednesday, is expected to show headline inflation rising above May’s 8.6% level.

On Tuesday, the closely watched 2-year/10-year yield curve hit its lowest level since 2007 and remained inverted early Wednesday. An inverted yield curve is seen as a warning that the economy may be falling or has already fallen into recession.

The dollar, which has rallied nearly 13% this year, reached a two-decade high this week as gold hit its lowest level since late September.

Meanwhile, President Joe Biden began his Middle East trip, which includes a visit to Saudi Arabia and meetings with OPEC leaders in an effort to push for higher oil production to ease prices.

— CNBC’s Samantha Subin and Natasha Turak contributed to this report.



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