U.S. Treasury yields climbed on Wednesday morning, ahead of the release of key inflation data.
rose by more than 2 basis point to 1.8519%. Yields move inversely to prices and 1 basis point is equal to 0.01%.Economists expect a 0.6% increase, or a year-over-year gain of nearly 6%, which would be the most in 30 years. They expect core CPI, which excludes food and energy and is the Federal Reserve's preferred measure of inflation, to have risen 0.4%, or 4.3% year-over-year.
The producer price index rose by 0.6% in October from the previous month, which was in line with economist forecasts. Wholesale prices jumped 8.6% in October from a year ago, however, the hottest annual pace on record in almost 11 years.
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