(Bloomberg) — Treasuries were little changed as traders speculated that a report showing U.S. consumer prices rose less than forecast in July won’t be enough to deter the Federal Reserve from increasing interest rates this year.
Investors are looking to the release later Wednesday of minutes from the Federal Reserve’s latest meeting for clues to the timing of a potential interest-rate boost. Minutes from the July gathering are set for release at 2 p.m. New York time.
“I don’t think it stops the Fed from acting,” said Larry Milstein, managing director of government-debt trading at R.W. Pressprich & Co. in New York. “September is probably in the cards at this point.”
Benchmark U.S. 10-year notes yielded about 2.2 percent as of 8:47 a.m. in New York, according to Bloomberg Bond Trader data. The 2 percent security due in August 2025 fetched about 98 1/4.