The 10-year U.S. Treasury yield topped 1.93% on Tuesday morning, with investors focused on inflation data due out later in the week.
rose by 1 basis point to 2.2328%. Yields move inversely to prices and 1 basis point is equal to 0.01%.The U.S. Labor Department is due to release January's consumer price index data on Thursday.
The reading follows a stronger-than-expected January jobs report, which has led to speculation that the Federal Reserve could be more aggressive when it comes to hiking rates. The inflation data is expected to show that prices rose 0.4% in January, for a 7.2% gain from one year ago. Guilhem Savry, head of macro and dynamic allocation at Unigestion, said on Tuesday that to "correct its mistake in assessing both the scale and sustainability of the inflation shock, the Fed is now set to normalise its monetary policy by combining tapering, hiking and quantitative tightening in the same year."
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