US government debt prices rose on Wednesday morning as investors waited to hear from Federal Reserve Chairman Jerome Powell. At about 1:30 AM ET, the 10 years yield was at 1.3328%, and the 30 years yield was down 11.5 basis points to trade at 1.8685%. Yields usually move inversely with prices.
US government debt yields rebounded slightly on Tuesday as the selloff led by the Evergrande crisis eased.
Today's focus is on what Jerome Powell will say at the press conference after the two-day FOMC meeting. Investors are looking for more details on potential tapering before the end of the year.