U.S. Treasury yields tick lower ahead of U.S. data release, markets watch for new Covid-19 restrictions

U.S. Treasury yields tick lower ahead of U.S. data release, markets watch for new Covid-19 restrictions

U.S. Treasury yields moved slightly lower on Wednesday as investors await a raft of U.S. economic data and continue to monitor government responses to the rapidly spreading omicron variant. The yield on the benchmark dipped 2.4 basis points to 1.463% in premarket trading. The yield on the moved 2 basis points lower to 1.876%. Yields move inversely to prices and 1 basis point is equal to 0.01%. U.S. third-quarter GDP growth and price index data is due Wednesday, as well as data for Q3 real consumer spending, consumer confidence, existing home sales, corporate profits, and PCE prices, which represent a measure of the prices U.S. consumers pay for goods and services, essentially capturing inflation. The U.S. Energy Information Administration will also be releasing its latest data on domestic oil, gasoline and fuel stocks as well as gasoline production and crude oil import figures. On Tuesday, urging Americans to get vaccinated. He also said those who are fully vaccinated can safely celebrate the holidays. The rapidly spreading strain is now the , representing 73% of sequenced cases. An increasing number of European countries are considering Christmas restrictions and limiting travel mobility. On Monday, U.K. Prime Minister Boris Johnson said that he