Treasury yields rise ahead of closely-watched 10-year auction and FOMC minutes

U.S. Treasury yields climbed early Wednesday after retreating in the previous session, as investors awaited a closely watched 10-year note auction and minutes from the Federal Reserve's last meeting. The Benchmark 10-year Treasury was up 3 basis points to 5.307%, and the 30-year Treasury bond rose 4 basis points to 5.69%. The 2-year Treasury note yield was up one basis point to 4.801% One basis point equals 0.01%, and yields and prices move in opposite directions. Investors are anticipating two key events on Wednesday. FOMC meeting minutes, due 2:00 p.m. ET, will be parsed for potential insights on Fed monetary policy decision-making. At the Fed's September meeting, policymakers voted to raise interest rates for the first time since 2023.