(RTTNews) - Treasuries once again failed to sustain an early move to the upside after came under pressure over the course of the trading day on Wednesday. Bond prices pulled back well off their early highs and firmly into negative territory as the day progressed. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 4 basis points to 5.29 percent. The ten-year yield closed higher for the seventh consecutive session, reaching its highest closing level since May 2002. Treasuries initially benefitted from a positive reaction to a closely watched report on consumer price inflation in the U.S.
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