U.S. Treasury yields climbed early Wednesday after retreating in the previous session, as investors awaited a closely watched 10-year note auction and minutes from the Federal Reserve's last meeting.
The Benchmark 10-year Treasury was up 3 basis points to 5.307%, and the 30-year Treasury bond rose 4 basis points to 5.69%. The 2-year Treasury note yield was up one basis point to 4.801%
One basis point equals 0.01%, and yields and prices move in opposite directions.
Investors are anticipating two key events on Wednesday. FOMC meeting minutes, due 2:00 p.m. ET, will be parsed for potential insights on Fed monetary policy decision-making. At the Fed's September meeting, policymakers voted to raise interest rates for the first time since 2023.
Bond yields have been selling off over the past six weeks as investors were concerned about inflation and rising energy prices.