U.S. Treasury yields inched lower on Wednesday as investors awaited the latest consumer price inflation reading, due later in the session.
The benchmark 10-year Treasury yield was down 2 basis points to 5.195%, and the 30-year Treasury yield was down 1 basis point to 5.549%. The 2-year Treasury note yield was also down 2 basis points to 4.772%.
One basis point is equal to 0.01%, and yields and prices move in opposite directions.
The September consumer price index report will be released later on Wednesday morning.
Headline inflation is expected to rise 0.6% on the month and 3.6% on an annual basis, according to economists polled by Dow Jones. The projected annual number shows that price growth is accelerating away from the Federal Reserve's target inflation rate of 2%.