U.S. Treasury yields inched higher on Wednesday as investors continued to keep an eye on the latest trade developments between the U.S. and the European Union.
At 3:57 a.m. ET, the 30-year Treasury yield was up over 3 basis points to 4.467%. The 10-year Treasury was also 3 basis points higher to 4.467%. The 2-year yield added just over one basis point to reach 3.961%.
One basis point is equivalent to 0.01%, and yields move inversely to prices.
Investors have watched closely as President Donald Trump said on Sunday that he would delay a 50% tariff on the EU till July 9, at the request of European Commission President Ursula von der Leyen. The tariff was initially going to be implemented from June 1.
Investor optimism was boosted when U.S. National Economic Council director Kevin Hassett told CNBC’s “Squawk Box” on Tuesday that “we’ll probably see a few more deals even this week.”
The Federal Open Market Committee meeting minutes from May are due to be released on Wednesday at 2 p.m. ET, which investors will review for more insights into how the Federal Reserve is making decisions about monetary policy amid uncertainty about trade policies.
Other economic data due this week include the gross domestic product growth rate on Thursday morning. The personal consumption expenditures index — the Fed’s preferred inflation gauge — will be published on Friday morning, which investors will await closely for more clues about the health of the U.S. economy.
