U.S. Treasury yields climbed on Wednesday morning, ahead of the release of the July consumer price index, a key inflation indicator.
added close to 3 basis points, climbing to 2.013%. Yields move inversely to prices. One basis point is 0.01%.The July CPI index is due to be released at 8:30 a.m. ET. Economists surveyed by Dow Jones expect the index to have risen, or 5.3% year over year. In June prices jumped 0.9%, which was the biggest monthly increase since August 2008.
Meanwhile, Kansas City Federal Reserve President Esther George is due to speak at 12 p.m. ET on Wednesday. Investors will be listening to her comments closely, given that two Fed officials this week have already suggested that inflation has now reached the point that would satisfy one part of the central bank's targets to start paring back its easy monetary policy.
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