U.S. Treasury yields were mixed on Wednesday morning, following data which showed lower-than-expected inflation.
Sels said that HSBC expected inflation to come down later in the years, partly because "commodity price base effects will become more deflationary near year-end."
"However, there is uncertainty about the speed and the extent of the fall, as many variables influence inflation," he added, referring to the increased spread of the delta variant and supply chain issues. In terms of economic data due out on Wednesday, August's import and export prices are set to be released at 8:30 a.m. ET. Industrial production data for August is then due to come out at 9:15 a.m. ET.
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