Treasury yields rise as investors weigh inflation data

U.S. Treasury yields ticked higher as investors considered recent inflation data and anticipated upcoming economic data. The 10-year Treasury yield rose by nearly one basis point to 3.8314%, while the 2-year Treasury yield increased by more than one basis point to 3.9594%. The inflation data released on Wednesday showed a 0.2% monthly increase and a 2.9% year-on-year increase in the consumer price index in July. The core consumer price index, which excludes food and energy prices, rose 0.2% monthly and 3.2% annually. These figures raised expectations for a September interest rate cut from the Federal Reserve. Investors are also awaiting retail sales data for insights into the economy and consumer well-being amid concerns of a looming recession and slowing economic growth in the U.S.