Treasury yields inch lower as investors await key inflation report

US Treasury yields eased slightly on Wednesday as investors waited for the latest consumer price inflation report later in the session. The benchmark 10-year yield fell 2 basis points to 5.195%, while the 30-year dropped 1 basis point to 5.549%. The 2-year Treasury note also declined 2 basis points to 4.772%. A basis point equals 0.01%, and yields move inversely to bond prices. Economists surveyed by Dow Jones expect headline CPI to rise 0.6% month over month and 3.6% year over year. Core CPI is forecast at +0.2% for the month and +2.5% annually. Deutsche Bank noted the CPI release lands two weeks before the Fed’s next rate decision.