div > div.group > p:first-child"> At around 02:53 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 2.550 percent, while the yield on the 30-year Treasury bond was also lower at 2.9705 percent.
Investors are tracking corporate earnings, which have been better-than-expected. As a result, the S&P 500 and the Nasdaq Composite closed Tuesday on record highs. This is leading bond traders to weigh up whether the Federal Reserve could perhaps return to a more hawkish stance. There are no major economic releases this Wednesday. However, the Federal Reserve board is meeting to discuss its semi-annual financial stability report at 10 a.m. ET.
In terms of auctions, the U.S. Treasury is set to sell $41 billion in 5-year notes and $20 billion in two-year floating rate notes. Oil prices dropped on Wednesday amid signs that supply is still adequate despite the U.S. announcing a push for tighter sanctions on Iran and a plan to halt waivers that had allowed limited Iranian oil imports.
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Source: CNBC - 🏆 12. / 72 Read more »