10-year U.S. Treasury yield approaches key 1.2% level before January inflation numbers

U.S. Treasury yields edged higher early Wednesday before the release of the U.S. consumer inflation data for January.

What are Treasurys doing?

The 10-year Treasury note yield
TMUBMUSD10Y,
1.173%
rose 1.5 basis points to 1.172%, nearing the key 1.2% level that has contained the benchmark maturity since last February. The 2-year note rate
TMUBMUSD02Y,
0.117%
was flat at 0.117%, while the 30-year bond yield
TMUBMUSD30Y,
1.966%
climbed 1.7 basis points to 1.964%.

What’s driving Treasurys?

Bond yields renewed their trend higher before a release of January consumer prices data. MarketWatch-polled analysts are…