{"id":109168,"date":"2021-03-10T11:45:40","date_gmt":"2021-03-10T11:45:40","guid":{"rendered":"https:\/\/fin2me.com\/?p=109168"},"modified":"2021-03-10T11:45:40","modified_gmt":"2021-03-10T11:45:40","slug":"treasury-yields-climb-ahead-of-february-inflation-data","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/treasury-yields-climb-ahead-of-february-inflation-data\/","title":{"rendered":"Treasury yields climb ahead of February inflation data"},"content":{"rendered":"
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February's consumer price index is due out at 8:30 a.m. ET on Wednesday.<\/li>\n
Economists expect it to have risen 0.4% in February, or up 1.7% from a year ago.<\/li>\n
House Democrats aim to pass the $1.9 trillion stimulus bill on Wednesday.<\/li>\n<\/ul>\n
U.S. Treasury yields climbed early on Wednesday, ahead of the release of inflation data for February later in the morning.<\/p>\n
The yield on the benchmark 10-year Treasury note rose to 1.553% at 4:10 a.m. ET. The yield on the 30-year Treasury bond advanced to 2.265%. Yields move inversely to prices.<\/p>\n
Treasurys<\/h3>\n
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February's consumer price index is due out at 8:30 a.m. ET on Wednesday. Economists expect it to have risen 0.4% in February, or up 1.7% from a year ago.<\/p>\n
However, ING senior rates strategist Antoine Bouvet told CNBC's "Street Signs Europe" on Wednesday that he didn't think this inflation reading would be the "big one."<\/p>\n
He said ING expected big readings to only occur toward the end of the second quarter, "potentially peaking around 3.5% and above."<\/p>\n
ING had forecast average inflation to reach 2.9% this year and stay at that level next year, expecting the decline to be "very slow."<\/p>\n
Concerns about higher inflation have been driving bond yields higher recently.<\/p>\n
The $1.9 trillion fiscal stimulus package is expected to add juice to the economy.\u00a0That has raised inflation concerns, and the market could be spooked by a CPI report that is any hotter than expected.<\/p>\n
House Democrats aim to pass the stimulus bill on Wednesday, with President Joe Biden expected to sign it before key unemployment programs expire on Sunday.<\/p>\n
Auctions will be held Wednesday for $30 billion of 119-day bills and $38 billion of 9-year 11-month notes.<\/p>\n
\u2014 CNBC's Patti Domm contributed to this report.<\/em><\/p>\n