US Treasury bond yields rose early Wednesday before February inflation data was released later that morning.
The benchmark 10-year Treasury note yield rose to 1.553% at 4:10 a.m. ET. The yield on the 30-year government bond rose to 2.265%. The returns move inversely to the prices.
The consumer price index for February will be released on Wednesday at 8:30 a.m.CET. Economists expect an increase of 0.4% in February or 1.7% year over year.
Concerns about higher inflation have fueled bond yields recently.
The $ 1.9 trillion stimulus package is expected to add juice to the economy. This has led to inflation concerns and the market may be startled by a CPI report hotter than expected.
The House Democrats want to pass the economic law on Wednesday. President Joe Biden is expected to sign it before major unemployment programs expire on Sunday.
Auctions will be held Wednesday for 119-day notes valued at $ 30 billion and 11-month notes valued at $ 38 billion.
– CNBC’s Patti Domm contributed to this report.
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