The 10-year Treasury yield fell on Wednesday as investors looked to key inflation readings and other economic data due later this week.
One basis point is equal to 0.01%. Yields and prices move in opposite directions.Investors' will largely be focusing on October's inflation data due on Wednesday, a data reading which plays a key role in informing the Federal Reserve's decision to cut or maintain interest rates.
The Consumer Price Index data for October will indicate how much the costs of goods and services have increased. The0.2% for the month, which would put the 12-month rate at 2.6%, according to economists polled by Dow Jones. Investors will also look to the producer price index data for October which will be published on Thursday. Fed Chair Jerome Powell will deliver a speech later in the week, which investors will monitor closely for clues about future monetary policy. Data on retail sales and industrial production will also be published on Friday.
"This is a busy week with consumer prices, producer prices, and retail sales. All of which could signal that the economy remains strong," said Scott Helfstein, head of investment at Global X ETFs. He added that markets may be less sensitive to data this week after the election and theLast week, bond yields soared after President-elect Donald Trump's victory, with expectations that his pro-business policies and tax cuts could boost economic growth.
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