Treasury yields steadied early on Wednesday as investors awaited fresh data for insights into the U.S. economic picture ahead of next week's Federal Reserve interest rate decision.
Yields on 10-year U.S. Treasurys — the main benchmark for mortgages, auto loans and credit card debt — were unchanged at 5.1211%.
The yield on the 2-year Treasury note, which more closely follows short-term Federal Reserve rate decisions, was holding firm at 4.7889%. The yield on longer-dated 30-year U.S. Treasurys — which often moves on geopolitical developments — also held steady at 5.4320%.
One basis point equals 0.01%, or 1/100th of 1%, and yields and prices move inversely to one another.
With the Federal Reserve's next interest rate meeting scheduled for Oct. 28, traders are weighing up how domestic economic data and global geopolitical developments are shaping the outlook for inflation and interest rates.