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Treasury yields mixed after Fed meeting report


U.S. Treasury yields were mixed on Thursday morning, as investors digested news that the Federal Reserve could start cutting its bond buying program by mid-November.

The benchmark 10-year Treasury bill yield fell less than a basis point, falling to 1.546% at 3:40 a.m. ET. The yield on the 30-year Treasury bill rose more than 1 basis point to 2.058%. Yields move in the opposite direction of prices and 1 basis point equals 0.01%.

The 10-year rate fell to around 1.54% in afternoon trading on Wednesday, following the release of the September Fed meeting minutes. The minutes said Fed officials believe the central bank has almost reached its economic targets and may soon begin to slowly reduce the pace of its monthly asset purchase program.

Meanwhile, data released on Wednesday showed slightly higher than expected consumer price inflation in September. The consumer price index rose 0.4% on a month, against a Dow Jones estimate of 0.3%. The index showed that prices were up 5.4% year-on-year, compared to an expected impression of 5.3%.

The September producer price index is due Thursday at 8:30 a.m. ET, along with weekly data on jobless claims.

Auctions are scheduled to take place Thursday for $ 25 billion in four-week bills, $ 25 billion in eight-week bills and $ 60 billion in 39-day bills.

CNBC’s Jeff Cox contributed to this market report.

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