US Treasury yields were flat on Wednesday as traders prepared to release key inflation data.
10 Year Treasury Yield Rose 2.963% less than the basis mark. yield on 30 Year Treasury Bond traded up 2 basis points at 3.159%. The 2-year rate held steady at 3.047%. Yields move inversely to prices, and one basis point equals 0.01%.
The June consumer price index, scheduled for release on Wednesday, expects headline inflation to rise 8.8% on a year-on-year basis, up slightly. May’s level of 8.6%,
On Tuesday, the closely watched 2-year/10-year yield curve hit its lowest level since 2007 and turned inverted early Wednesday. An inverted yield curve is seen as a warning that the economy is falling or has already fallen into recession.
The dollar, which has climbed nearly 13% this year, hit a two-decade high this week as gold hit its lowest level since late September.
— CNBC’s Samantha Subin and Natasha Turak contributed to this report.