U.S. Treasury yields were higher on Wednesday as investors considered the latest comments from Federal Reserve officials about monetary policy and awaited key economic data.
At 3:56 a.m. ET, the yield on the 10-year Treasury was up by over three basis points to 4.2728%. The 2-year Treasury yield was last at 4.7306% after rising by close to four basis points.
Yields and prices move in opposite directions. One basis point is equivalent to 0.01%.
Investors digested remarks from Federal Reserve officials about the U.S. economy and the outlook for interest rates.
Fed Governor Michelle Bowman on Tuesday said the central bank was not ready to cut rates, saying this would only be “appropriate” when data showed that inflation is sustainably easing towards the Fed’s 2% target.
Bowman also did not take further interest rate hikes off the table.
“I remain willing to raise the target range for the federal funds rate at a future meeting should progress…
