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U.S. Treasury yields rise ahead of inflation data
CNBC reports that U.S. Treasury yields rose, ahead of the release of inflation data later in the morning.
The yield on the benchmark 10-year Treasury note climbed nearly 2 basis points to 1.341%. The yield on the 30-year Treasury bond added 1 basis point at 1.915%.
August’s consumer price index is due to be released at 12:30 GMT. The CPI is forecast to have risen 0.4% in August month on month and 5.4% year on year.
Inflation data is being closely watched by the Federal Reserve, as it considers when to start tightening monetary policy. The Fed is due to kick off its latest two-day policy meeting next Tuesday.
Steven Bell, chief economist at BMO GAM, said on Tuesday that he expected the Fed to confirm plans to start tapering bond purchases at the end of the year.
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