U.S. Treasury yields ticked higher on Wednesday as investors awaited further economic data and weighed the possibility of a U.S. federal government shutdown next week.
The 10-year Treasury yield was up more than 3 basis points at 4.149%. The 2-year Treasury yield was also more than 3 basis points higher at 3.606%. The 30-year Treasury bond yield rose more than a basis point to 4.754%.
One basis point equals 0.01%, and yields and prices move in opposite directions.
Yields saw a bit of a boost on Wednesday after new home sales came in better than expected for August, recording 800,000 on the month compared to the 650,000 that economists polled by Dow Jones had penciled in.
“As rates could decrease in the coming months, investors should see the residential market bottom out and become less of a drag on overall economic growth,” said Jeffrey Roach, chief economist at LPL Financial. “If housing recovers, the economy will more likely…
