U.S. Treasury yields ebbed lower on Wednesday morning, ahead of Federal Reserve Chairman Jerome Powell's testimony in front of Congress later in the day.
Powell is due to give the U.S. House Committee on Financial Services his semiannual update on monetary policy at 12 p.m. ET on Wednesday. He is then set to speak in front of the Senate Committee on Banking, Housing and Urban Affairs at 9:30 a.m. ET Thursday.
Dan Lacalle, chief economist at Tressis Gestion, told CNBC's "Squawk Box Europe" on Wednesday that he was concerned about the "sticky parts" of inflation.
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