U.S. Treasury yields dipped slightly early on Wednesday, ahead of the release of inflation data, due out later in the morning.
moved less than a basis point lower to 2.0643%. Yields move inversely to prices and 1 basis point is equal to 0.01%., a key inflation measure, is due to be released at 8:30 a.m. ET on Wednesday and is expected to show the hottest increase in prices since the early 1980s.
Economists expect the consumer price rose 0.4% in December, and 7% on a year-over-year basis, according to Dow Jones. The December producer price index, another measure of inflation, is then set to come out on Thursday morning.before the U.S. Senate on Tuesday that interest rate hikes, along with other reductions in the central bank's support for the economy, would be needed to control inflation.Stock picks and investing trends from CNBC Pro: