Listen to this article
US Treasury prices sold off on Wednesday on the back of reports that pointed to a bigger-than-expected pick-up in inflation and stronger-than-forecast retail sales growth last month.
The 10-year yield climbed by 4.3 basis points to 2.51 per cent, while the two-year was up by 2.5bps to 1.259 per cent.
Yields at both durations have climbed for five-straight sessions, as the so-called “reflation trade” has resumed after stalling earlier in the year.
Fixed income investors will also be watching comments later from Federal Reserve head Janet Yellen, who is set to speak before the US House of Representatives later in the day.