Treasury yields rose Wednesday, with the 10-year yield hovering near 4.1% as investors focused on stronger-than-expected December retail sales and the latest remarks from Federal Reserve members.
The yield on the 10-year Treasury note was last up nearly 4 basis points at 4.102%, after trading as high as 4.12%, the highest level since Dec. 13. The 2-year Treasury yield rose around 12 basis points to trade at 4.352%.
The 20-year Treasury inched up 2 basis points to 4.442%. This came after a weak auction of $13 billion 20-year bonds at a high yield of 4.423%. The bid-to-cover ratio, a measure of demand, on the 20-year Treasury was 2.53.
Yields and prices move in opposite directions. One basis point equals 0.01%.
December’s retail sales data indicated strong consumer demand at the holidays. Retail sales increased 0.6% for the month, above economists’ estimates of 0.4%, as compiled by Dow Jones. Excluding autos, sales rose 0.4%, which also…
