U.S. government debt prices fell on Wednesday as investors awaited new economic data and continued to monitor geopolitical tensions between the United States and China.
At around 6:21 a.m. ET, the yield on the benchmark 10-year Treasury rose to 2.774% and the yield on the 30-year Treasury also rose to 3.026%. Yields move inversely to prices.
Demand for safe-haven assets eased slightly overnight, but investors were still watching for developments in US-China relations after House Speaker Nancy Pelosi spoke with Taiwanese President Tsai Ing-wen. Her trip to Taiwan attracted a lot of attention, given the vocal opposition from China.
On the data side, there will be services PMI at 9:45am ET and factory orders due at 10am ET. Both data points will be important to investors as they track the slowdown in the US economy.
In terms of keynote speeches, Philadelphia Federal Reserve President Patrick Harker addresses an audience at 10 am ET, and Richmond Fed President Tom Barkin also at 11:45 am ET.
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