US Treasury yields edged higher on Wednesday as investors braced for an important policy decision from the Federal Reserve.
Return on benchmark 10-year Treasury bond rose 1 basis point to 2.8068% at 1:30 a.m. ET, while yields on 30-year Treasury bond increased 2 basis points to 3,0284 %. Yields move inversely to price and basis point by 0.01%.
Much of this week’s focus will be on the US Federal Reserve’s two-day policy meeting, which begins on Tuesday. Economists are expecting a 75 basis point increase in interest rates.
The Fed is trying to contain inflation while navigating a backdrop of slowing growth, as evidenced by weaker-than-expected data last week on business activity and jobs.
In Wednesday’s earnings news, Boeing and Shopify are expected to release their quarterly results before the bell, while Qualcomm, Ford and Meta Platforms will report later in the day.
On the economic front, durable goods figures for June are released at 8:30 a.m. ET, while pending home sales for the same month are released at 10 a.m. ET.
– CNBC’s Holly Ellyatt and Tanaya Macheel contributed to this report.
