Treasury yields mixed as investors weigh U.S. economic outlook
Yields and prices have an inverted relationship. One basis point is equivalent to 0.01%.Investors fretted over the state of the U.S. economy as negotiations about raising the debt ceiling continued, with participants last saying
. A solution must be found before June 1, or lawmakers risk the U.S. defaulting on its debt obligations. Elsewhere, investors weighed what could be next for Federal Reserve interest rate policy. Investors had beenlater this year off the back of data that indicated an easing of inflationary pressures. On Tuesday, Cleveland Fed President Loretta Mester said that she does not believe the central bank has reached a point at which rates can be held steady and needed to stick to its current approach as inflation remained sticky.to bring inflation down and that further rate hikes are not off the table. Other Fed speakers have, however, urged caution, noting that the impact of higher rates hasn't been fully felt.
On Wednesday, investors will be following further Fed speaker comments, as well as the release of building permit and housing starts data for April.
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