Treasury yields inch higher as investors consider the state of the economy

U.S. Treasury yields were higher on Wednesday as investors weighed economic data and considered the state of the economy.

The yield on the 10-year Treasury added 5.3 basis points to 3.789%. The 2-year Treasury yield gained 4.1 basis points to 3.561%.

Yields and prices move in opposite directions. One basis point equals 0.01%.

Investors have turned their focus toward the economy since the Federal Reserve cut interest rates by a half point last week.

Data released Tuesday showed that consumer confidence fell to its lowest level in over three years in September, coming in at 98.7. That is down from 105.6 in August and below the consensus Dow Jones estimate of 104.

Fed officials, including Chairman Jerome Powell, are slated to speak later this week. Investors will listen for clues on the central bank’s outlook for monetary policy and expectations for the economy.
On Friday, traders will watch for the personal consumption expenditures price index, which is also the Fed’s preferred inflation gauge.