Treasury yields rise as inflation fears persist

Treasury yields rise as inflation fears persist

U.S. Treasury yields rose on Wednesday morning, despite growing investor concerns about how the Russia-Ukraine war could intensify price pressures. The yield on the benchmark moved 2 basis points higher to1.8992% at 4:50 a.m. ET. The yield on the added 1 basis point to 2.2622%. Yields move inversely to prices and 1 basis point is equal to 0.01%. U.S. President Joe Biden announced on Tuesday that the U.S. will ban imports of Russian oil in response to Moscow's invasion of Ukraine. , the U.S. oil benchmark, had already topped $130 a barrel on Sunday as a result of the conflict. WTI futures have since fallen back, trading at $125.24 on Wednesday morning. Other commodity prices resumed their push higher, including nickel, which  above $100,000 a metric ton on Tuesday. Higher commodity prices have sparked investor concerns that this could push up headline inflation, while also slowing economic growth. February's consumer price index, a key measure of inflation, is due out at 8:30 a.m. ET on Thursday. Prior to that on Wednesday, January's Job Openings and Labor Turnover Survey is set to be released at 10 a.m. ET. Auctions are scheduled to be held on Wednesday for $35 billion of