Treasury yields mixed as investors await key inflation data, Fed minutes
Yields and prices have an inverted relationship. One basis point is equivalent to 0.01%.Investors looked to key inflation data due Tuesday, including the consumer price index report for March and the core inflation rate. Economists surveyed by Dow Jones are expecting the CPI to have risen by 0.2% on a monthly basis. This would mark a slowdown compared to February's 0.4% increase.The Fed's next interest rate decision in May is likely to be impacted by the fresh inflation figures.
In a speech at the Wharton School at the University of Pennsylvania on Tuesday, Philadelphia Fed President Patrick Harker indicated that he would support rates being hiked slightly higher and then staying elevated for some time. Minutes from the Fed's March meeting are also due Wednesday and could provide fresh hints about the central bank's policy expectations.
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