The 10-year US Treasury yield reached 1.75% after inflation reports showed that consumer prices rose at the fastest pace since 1982.
Benchmark yield 10-year government bond It rose 3 basis points to 1.7571% at 4am EST.Yield 30-year government bond It increased by 2 basis points to 2.0985%. Yields are inversely proportional to price, and one basis point corresponds to 0.01%.
The Consumer price indexReleased on Wednesday, it increased by 7% in the 12 months to December. On a monthly basis, the CPI increased by 0.5%. According to Dow Jones, economists expected the consumer price index to rise 0.4% and 7% year-on-year in December.
Another indicator of inflation, the December Producer Price Index, will be released Thursday at 8:30 am ET.
The number of unemployed claims filed during the week ending January 8 is also scheduled for 8:30 EST. Economists polled by Dow Jones predict that 200,000 people have filed for unemployment from 207,000 last week.
Meanwhile, Federal Reserve Board Lael Brainard will testify in the US Senate about her nomination hearing on the role of central bank vice-chairman.
The auction will be held with a $ 50 billion four-week invoice, a $ 40 billion eight-week invoice, and a $ 22 billion 30-year bond.
— CNBC’s Maggie Fitzgerald contributed to this market report.
Treasury yields rise following hot inflation readings
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