U.S. Treasury yields fell slightly on Wednesday as investors awaited more economic data and digested U.S. President Donald Trump’s latest comments.
At 3:44 a.m. ET, the 10-year Treasury yield dipped by more than one basis point to 4.5603%. The 2-year Treasury yield dropped less than one basis point to 4.2720%.
One basis point is equal to 0.01% and yields and prices move in opposite directions.
Investors are watching closely for comments from Trump following his inauguration and the impact this will have on the U.S. economy.
Trump signed over 40 executive orders on his first day in the White House, including withdrawing the U.S. from the Paris Climate Agreement, pardoning roughly 1,500 people who were charged in relation to the attack on the Capitol on Jan. 6, 2021, and ending diversity, equity and inclusion programs.
The president also made comments about tariffs on Monday, saying he’s considering imposing 25% tariffs on Mexico and Canada from February, and a 10% tariff on China.
Investors will be waiting to see whether Trump enforces the pro-business policies that he pledged during his campaign.
It was quiet on the data front on Monday, but investors will await some housing data this week. The MBA 30-year mortgage rate will be published on Tuesday and existing home sales data is due on Friday.
Weekly jobless claims data is out on Thursday and the S&P Global Composite PMI Flash will be released on Friday.
Elsewhere, the World Economic Forum in Davos, Switzerland, is underway as world leaders and CEOs congregate to discuss the world’s most pressing issues.
