Treasury yields are higher as investors await key inflation report
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U.S. Treasury yields moved higher on Wednesday as investors awaited February's inflation report and monitored developments on the US-Iran war front.
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In this article US2Y US10Y US30Y TLT Follow your favorite stocks CREATE FREE ACCOUNT U.S. Treasury yields moved higher on Wednesday as investors awaited February's inflation report and monitored U.S.-Iran war developments. At 3:54 a.m. ET, the benchmark 10-year Treasury yield rose more than 2 basis points to 4.159%. The 30-year Treasury bond was also up over 2 basis points to 4.797%. The 2-year Treasury note yield also rose 2 basis points to 3.59%. One basis point is equal to 0.01%, and yields and prices move in opposite directions. The consumer price index report for February is set to be released Wednesday morning, which investors will parse for clues about the health of the U.S. economy. Economists polled by Dow Jones expect the headline CPI to have risen 2.4% on a yearly basis. "This is a key print, as the recent oil shock has pushed back market expectations for the next Fed rate cut," Deutsche Bank analysts said in a note on Wednesday. "While the Fed is widely expected to hold rates steady at next week's meeting, today's data will help shape expectations for subsequent decisions." Investors are continuing to keep an eye on the conflict in the Middle East, which caused oil prices to surge to $120 a barrel on Monday. Prices have eased since, but remain elevated. Other economic data includes housing starts and weekly initial jobless claims on Thursday, and the personal consumption expenditures index on Friday. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news. Subscribe to CNBC PRO Subscribe to Investing Club Licensing & Reprints CNBC Councils Select Personal Finance Join the CNBC Panel Closed Captioning Digital Products News Releases Internships Corrections About CNBC Site Map Podcasts Careers Help Contact News Tips Got a confidential news tip? We want to hear from you. Get In Touch CNBC Newsletters Sign up for free newsletters and get more CNBC delivered to your inbox Sign Up Now Get this delivered...
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