US Treasury yields inched higher on Tuesday morning, ahead of the Federal Reserve’s December policy meeting.
Return on benchmark 10-year Treasury bond added 1 basis point, rising to 1,4326% as of 3:30 a.m. ET. Productivity per 30-year Treasury bond little changed at 1.8145%. Yields move inversely with price and 1 basis point equals 0.01%.
The Fed will begin its latest monetary policy meeting on Tuesday, where it is expected to discuss accelerating cuts to its bond-buying program. The meeting ends Wednesday afternoon, and will be followed by a press conference with Fed Chairman Jerome Powell.
On the data front, the November producer price index will be released at 8:30 a.m. ET on Tuesday. Economists are expecting it to show prices have risen 0.5% for the month, according to estimates from Dow Jones. This will be a bit slow down compared with a 0.6% increase in October.
This follows Friday’s hot inflation report, with Consumer Price Index rose 6.8% in November year-on-year, representing the largest increase since 1982.
No auctions are scheduled for Tuesday.
– CNBC’s Pippa Stevens contributed to this market report.
https://www.cnbc.com/2021/12/14/us-bonds-treasury-yields-inch-higher-as-investors-eye-fed-meeting.html Treasury yields slightly higher as investors keep an eye on Fed meeting