Treasury yields unmoved ahead of key inflation data releases

U.S. Treasury yields were unchanged on Wednesday morning ahead of critical economic data releases, with investors monitoring how the latest inflation print will shape interest rate decisions.

The yield on the 10-year Treasury note — the main benchmark for mortgages, auto loans and credit card debt — was flat at 4.5284%.

Shorter- and longer-dated yields were also last seen holding steady. The yield on the 2-year Treasury note, which closely tracks short-term Federal Reserve interest rate decisions, was unmoved at 4.1328%.

Meanwhile, the 30-year Treasury yield, which traditionally moves on geopolitical events, also stood still at 4.0535%.

One basis point equals 0.01%, or 1/100th of 1%, and yields and prices move inversely to one another.

Borrowing costs edged lower during Tuesday's session, as investors prepare for a flurry of inflation reports this week.

The annual core inflation rate, due later from the Bureau of Labor Statistics, is expected to show U.S. inflation jumped to 4.2% year-on-year in May, up from April's reading of 3.8%. That will be followed by May's producer price inflation data on Thursday,

"People think that the consumer price inflation index is the end-all be-all when it come to the inflation story, but tomorrow's PPI is hugely important too," said Peter Boockvar, CIO, One Point BFG Wealth Partners.