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U.S. government debt prices were higher on Wednesday morning ahead of more economic data and Treasury auctions.
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At around 2:54 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 2.4088 percent, while the yield on the 30-year Treasury bond was also lower at 2.8639 percent.
The bond market is under scrutiny amid concerns over global economic growth. Last Friday, the yield curve between the three-month Treasury bill and the 10-year bond inverted — this is usually perceived as a signal a recession could be around the corner.
On Wednesday, investors will keep an eye on Fed speeches. The Kansas City Fed President Esther George is due to speak at 7 a.m. ET in New York.
On the data front, there will be international trade figures out at 8.30 a.m. ET and the current account balance at 10 a.m. ET.
Meanwhile, the U.S. Treasury is set to auction $18 billion in two-year FRNs (floating rate notes) and $41 billion in five-year notes.