Bond Report: 10-year Treasury yield little changed as Yellen watch continues

U.S. Treasurys were little changed Wednesday, with yields drifting slightly as investors stuck to the sidelines ahead of an end-of-week speech by Federal Reserve Chairwoman Janet Yellen that will be watched for clues to the central bank’s next rate move.

The yield on the 10-year U.S. Treasury note TMUBMUSD10Y, +0.78% rose half of a basis point to 1.559%, according to Tradeweb. Yields and debt prices move in opposite directions; a basis point is a hundredth of a percentage point.

Read:The Treasury market hasn’t been this quiet in a decade

“Janet Yellen is likely to send a message that echoes recent hawkish comments from [New York Fed President William] Dudley and [Fed Vice Chairman Stanley] Fischer for a near-term rate hike,” said Neil Staines, head of trading and execution at ECU Group.

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