U.S. Treasury yields fell slightly on Wednesday morning after the Labor Department’s January inflation report was in line with expectations.
The yield on the benchmark 10-year Treasury note stood at 1.15% at 8:40 a.m. ET, while the yield on the 30-year Treasury bond held at 1.938%. Yields move inversely to prices.
Treasury yields had ticked slightly higher on Wednesday morning before the inflation report. The U.S. consumer price index rose 0.3% in January while core CPI was unchanged. Economists surveyed by Dow Jones expected a rise of 0.3% for the main index and 0.1% for the core index.
Wholesale inventory data for December is due to be published at 10 a.m. ET.
Weekly EIA stocks change data for crude oil, Cushing crude oil, distillate and gasoline is also set for release at that time.
The U.S. government’s 2021 full-year budget plan is due out at 12:30 p.m. ET. The government’s monthly budget statement for January is then expected to be released at 2 p.m. ET.
Fed Chair Jerome Powell is also slated to speak to the Economic Club of New York at 2 p.m. ET.
Auctions will be held Wednesday for $25 billion of 105-day bills, $30 billion of 154-day bills and $41 billion of 10-year notes.
