A trader works on the floor of the New York Stock Exchange (NYSE) during the opening bell on March 5, 2026 in New York City.
Angela Weiss | AFP | fake images
Treasury yields rose on Wednesday as investors weighed a complicated February inflation report and monitored oil price movements amid the latest developments in the US-Iran war.
The benchmark 10-year Treasury yield rose more than 6 basis points to 4.198%. The 30-year Treasury yield added more than 7 basis points to 4.843%. The 2-year Treasury yield also gained more than 6 basis points, reaching 3.63%.
One basis point is equal to 0.01% and yields and prices move in opposite directions.
The consumer price index rose a seasonally adjusted 0.3% over the month, putting the trailing 12-month inflation rate at 2.4%, according to Bureau of Labor Statistics data released Wednesday. Both figures were in line with the Dow Jones consensus forecast and remained above the Federal Reserve’s 2% inflation target to achieve price stability.
“CPI printed in line with consensus expectations for February, a dull release that reflects the run-up to escalating military actions in the Middle East that will lift inflation readings next month due to higher energy prices,” said Josh Jamner, senior investment strategy analyst at ClearBridge Investments.
The US-Israeli campaign against Iran began on February 28, the last day of the month.
Oil prices rose again on Wednesday, with West Texas Intermediate futures rising 4% to around $87 a barrel. Brent crude oil also traded 4% higher at $91 per barrel. But oil markets got some relief when the International Energy Agency agreed to release 400 million barrels of oil, the largest release in the organization’s history.
Other economic data due this week include housing construction and weekly initial jobless claims on Thursday, and the personal consumption expenditures index, the Federal Reserve’s preferred inflation gauge, on Friday.
