U.S. Treasury yields remained little changed on Tuesday as investors awaited fresh inflation data due later this week.
10-year TreasuryInvestors are looking ahead to fresh inflation data, which will be the major economic release this week. The consumer price index for November will be published on Wednesday.
Headline inflation is expected to have risen 0.3% in November and 2.7% over the past year, according to economists polled by Dow Jones. Investors are keenly anticipating the CPI as it will be the last reading before the Federal Reserve's Dec. 17-18 meeting and it could influence interest rate decisions.
Fed officials will not be providing any commentary regarding the central bank's next move as the Fed is currently in a blackout period and are restricted from publicly speaking prior to a Federal Open Market Committee meeting. "That release is going to be crucial one, as it's probably the last big piece of the jigsaw ahead of the Fed's policy decision next week, where a rate cut is now priced in as an 86% probability," Deutsche Bank analysts said.On Tuesday morning, the National Federation of Independent Business' small business survey will be published. Mortgage data is also due on Wednesday.
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