U.S. Treasury yields retreated on Wednesday morning, but the 10-year rate held above 1.92%, ahead of the release of inflation data on Thursday.
moved 3 basis points lower to 2.2147%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
The 10-year rate hit 1.97% on Tuesday in the run-up to the release of the January consumer price index on Thursday. A higher inflation reading would add to expectations that the Federal Reserve will move on tightening monetary policy. Economists are expecting the CPI to the show that prices rose 0.4% in January, for a 7.2% increase on the previous year, which would be the highest in almost 40 years.
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