U.S. Treasury yields were mixed Wednesday morning amid persistent concerns about a global economic slowdown.
The yield on the benchmark 10-year Treasury note was about flat at 2.77% around 5:45 a.m. ET. The yield on the 30-year Treasury bond fell 1 basis point to 2.86%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
Treasurys
Treasury yields have been drifting lower this week, alongside falls in the stock market. A surge in Covid-19 cases in China, concerns over developments in the Russia-Ukraine war and tighter central bank policy to combat rising inflation, have all weighed on investor sentiment.
Tensions are ratcheting up between Western allies and Russia after Foreign Minister Sergey Lavrov on Monday said the threat of a nuclear war is very significant and the risks should not be underestimated.
U.S. Defense Secretary Lloyd Austin responded to those comments Tuesday, calling the nuclear war rhetoric “very dangerous and unhelpful.”
In terms of data releases due out on Wednesday, March’s pending home sales numbers are slated for release at 10 a.m. ET.
Auctions are scheduled to be held for $30 billion of 119-day bills and $49 billion of 5-year notes.
— CNBC.com staff contributed to this market report.
