U.S. Treasury yields inch lower as investors await key inflation report

U.S. Treasury yields inched lower on Wednesday as investors awaited the latest consumer price inflation reading, due later in the session. The benchmark 10-year Treasury yield was down 2 basis points to 5.195%, and the 30-year Treasury yield was down 1 basis point to 5.549%. The 2-year Treasury note yield was also down 2 basis points to 4.772%. One basis point is equal to 0.01%, and yields and prices move in opposite directions. The September consumer price index report will be released later on Wednesday morning. Headline inflation is expected to rise 0.6% on the month and 3.6% on an annual basis, according to economists polled by Dow Jones.