Treasury yields slightly higher as investors await inflation data

U.S. Treasury yields were mixed Thursday as investors continued to digest meeting minutes from the Federal Reserve and awaited fresh inflation data.

The 10-year Treasury yield was almost a basis point higher at 4.072%, while the 2-year Treasury was virtually flat at 4.013%.

Yields move inversely to prices. One basis point equals 0.01%.

Yields rose Wednesday as minutes from the Federal Reserve’s last meeting pointed to some division over the size of the rate cut.

10-year Treasury yields have been climbing steadily over recent days, jumping to 4% on Monday after last week’s stronger labor market readings, and following the Fed’s cut.

In recent days, it has hit its highest level in more than two months.

Investors are looking ahead on Thursday morning to fresh consumer price index data to get a handle on the current course for inflation.

A 30-year Treasury auction is also due later in the session.