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U.S. treasury yields climb ahead of CPI inflation data
CNBC reports that U.S. Treasury yields climbed on Wednesday, ahead of the release of the July consumer price index.
The yield on the benchmark 10-year Treasury note rose nearly 3 basis points to 1.372%. The yield on the 30-year Treasury bond added close to 3 basis points, climbing to 2.015%.
The July CPI index is due to be released at 12:30 GMT. Economists surveyed expect the index to have risen 0.5% last month, or 5.3% year over year. In June prices jumped 0.9%, which was the biggest monthly increase since August 2008.
Meanwhile, Kansas City Federal Reserve President Esther George is due to speak at 16:00 GMT. Investors will be listening to her comments closely, given that two Fed officials this week have already suggested that inflation has now reached the point that would satisfy one part of the central bank’s targets to start paring back its easy monetary policy. Both Atlanta Fed President Raphael Bostic and Richmond Fed President Thomas Barkin said on Monday they believed inflation had reached the central bank’s 2% long-term inflation threshold.
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