Bonds

Bond markets await housing data, Fed minutes

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Treasurys

The U.S. Treasury yield curve flattened on Wednesday, with yields rising on shorter-dated notes.

Yields on benchmark 10-year notes—used to calculate mortgage rates and other consumer loans—rose to 2.322 percent.

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The Fed minutes from its October policy meeting are due at 2 p.m. ET and could provide further clues as to the future path of interest rates as the bank steps back from monetary easing.

Data-wise, the weekly MBA Mortgage Index will be released at 7 a.m., to be followed by housing starts and building permits at 8:30 a.m. Weekly crude inventories will be published at 10:30 a.m.