A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 24, 2025. REUTERS/Brendan McDermid
U.S. Treasury yields moved higher Wednesday as investors awaited further economic data amid growing fears of a recession.
The benchmark 10-year Treasury note yield rose more than 4 basis points to 4.352%. The 2-year Treasury yield also added 3.5 basis points to 4.019%.
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One basis point is equivalent to 0.01%. Yields and prices move in opposite directions.
Investors are growing increasingly concerned about the state of the U.S. economy as more data points to a coming recession.
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Some 60% of chief financial officers see a recession in the second half of 2025, according to CNBC's latest CFO Council Survey. Three-quarters of CFOs surveyed said they are "somewhat pessimistic about the overall state of the U.S. economy."
Other words that crept into the survey were "aggressive" and "disruptive" in regard to the C-suite view of U.S. President Donald Trump's second term in office. This is largely due to Trump's fast-changing tariff policies, which have raised concerns about the possibility of a global trade war and lagging growth in the U.S. economy.
This was alongside a dip in consumer confidence data on Tuesday, which showed that U.S. consumers' near-term outlook on income, business and job prospects plunged to a 12-year low.
Money Report
Investors are now anticipating the release of the personal consumption expenditures price index, the Fed's preferred inflation gauge, on Friday, which will be a key indicator as to the health of the economy.
