U.S. Treasury yields moved higher as investors awaited further economic data amid growing fears of a recession.
At 5:41 a.m. ET, the benchmark 10-year Treasury note yield rose more than two basis points higher to 4.33%, while the 2-year Treasury yield also added two basis points to reach 4.004%.
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.
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 regards 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.
Investors will parse through further economic data on Wednesday with the release of February’s preliminary durable good orders and the average 30-year fixed mortgage lending rate.
They are also anticipating the release of the Personal Consumption Expenditures Index — the Fed’s preferred inflation gauge — on Friday, which will be a key indicator as to the health of the economy.