U.S. Treasury yields ticked higher on Wednesday as investors digested meeting minutes from the Federal Reserve and geared up for inflation data.
The 10-year Treasury yield rose nearly 4 basis points to 4.073%. The 2-year Treasury was around 4 basis points higher at 4.022%.
Yields move inversely to prices. One basis point equals 0.01%.
Yields edged higher as minutes from the Federal Reserve’s last meeting showed some internal disagreement over the size of the rate cut, with most central bank committee members ultimately supporting a half-point reduction.
Rates were also higher even after a well-received 1 p.m. auction.
The 10-year Treasury yield’s jump to 4% on Monday came after last week’s stronger labor market readings, and follows on from the Federal Reserve’s rate cut last month. In recent days, it has hit its highest level in more than two months.
The rebound in rates has been attributed mostly to a resetting of rate-cutting…
