U.S. Treasury Yields Edge Up as Investors Focus on Inflation and Housing Data

On Thursday, U.S. Treasury yields edged higher as investors awaited the latest inflation and housing market data. The yield on the 10-year Treasury note rose by 2 basis points to 5.0100%. The 2-year Treasury yield increased by 5 basis points to 4.7800%. The 30-year Treasury yield remained largely unchanged at 5.3503%. As Treasury yields rise, traders are waiting for more U.S. economic data this week. The latest monthly Producer Price Index (PPI) will be released on Friday, with the market expecting a 0.4% month-on-month increase in October, down from a 1.3% rise in September. Investors are also focused on the October existing home sales report from the National Association of Realtors (NAR), scheduled for release on Thursday evening. Existing home sales in September grew by 1.5%, reaching an annualized rate of 3.99 million units, with October sales expected to hit 4 million units. Meanwhile, international oil prices were mostly flat in early trading, with West Texas Intermediate (WTI) crude futures rising by less than 0.1% to $86.59 per barrel, and Brent crude futures up 0.17% to $92.92 per barrel.

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