Treasury yields move ahead of Biden’s inauguration

The 10-year U.S. Treasury yield edged higher on Wednesday morning, ahead of President-elect Joe Biden’s inauguration.The yield on the benchmark 10-year Treasury note rose to 1.094% at 3:20 a.m., while the yield on the 30-year Treasury bond slipped to 1.835%. Yields move inversely to prices.Treasury yield movements were mixed, ahead of Biden being sworn into office shortly after noon ET, which will see him succeed President Donald Trump as the 46th president of the United States.In his inauguration speech, Biden will speak about the need to bring the country together on the heels of a violent riot on Capitol Hill and amid extreme partisanship in Congress.January data from the National Association of Home Builders housing index, which gauges the outlook for the U.S. housing sector, is due out at 10 a.m. ET.Weekly API crude oil stock change data is expected to be released at 4:30 p.m. ET.Auctions will be held Wednesday for $25 billion of 105-day bills, $30 billion of 154-day bills and $24 billion of 19-year 10-month bonds.— CNBC’s Thomas Franck contributed to this article.

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