US Treasury yields tumble as trade woes resurface 

  • Coming up Wednesday, mortgage applications are due at 7 a.m. ET, followed by producer price index (PPI) data at 8:30 a.m. ET and wholesale trade figures at 10 a.m. ET.
  • Investors will be keeping a close eye on Trump’s European visit.

U.S. government debt prices posted solid gains on Wednesday.

The yield on the benchmark 10-year Treasury note was lower at around 2.838 percent at 5:15 a.m. ET, while the yield on the 30-year Treasury bond was in the red at 2.943 percent. Bond yields move inversely to prices.

Coming up Wednesday, mortgage applications are due at 7 a.m. ET, followed by producer price index (PPI) data at 8:30 a.m. ET and wholesale trade figures at 10 a.m. ET.

The Treasury is set to auction $22 billion in nine-year and 10-month notes.

On the central banking front, New York Fed President John Williams is expected to deliver remarks at a Brooklyn Law School town hall event in New York.

Trade anxieties ramped up again across markets Wednesday, after President Donald Trump and his administration published late Tuesday a list of 10 percent duties on $200 billion worth in Chinese goods.

The tariffs won’t come into effect immediately, but rather face a two-month review, with hearings taking place in mid-to-late August. The announcement came less than a week after both nations imposed $34 billion worth of tariffs on each other.

Not a Scientific Survey. Results may not total 100% due to rounding.

Trump is currently in Brussels attending a two-day NATO summit. During the first leg of his European trip, the U.S. incumbent has already made headlines by stating that “Germany is totally controlled by Russia,” describing how a number of “inappropriate” oil and gas deals had given Moscow too much influence over Berlin.

Investors will be keeping a close eye on Trump’s European visit.

—CNBC’s Sam Meredith contributed to this report

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