U.S. government debt yields held steady Wednesday ahead of a slew of speeches by Federal Reserve officials.
The yield on the benchmark 10-year Treasury note was largely unchanged at around 2.9 percent at 1:23 p.m. ET, while the yield on the 30-year Treasury bond was as stagnant at 3.074 percent. Bond yields move inversely to prices.
A number of U.S. Federal Reserve officials are due to speak at respective events.
St. Louis Fed President James Bullard said Wednesday that the central bank ought to pause further interest rate increases because its stance is already neutral or restrictive.
"U.S. monetary policymakers should put more weight than usual on financial market signals in the current macroeconomic environment," Bullard said in prepared remarks, according to a Reuters report. "Handled properly, current financial market information can provide the basis for a better forward-looking monetary policy strategy."
Bullard has cautioned colleagues on several occasions about goading borrowing costs upward, highlighting signals in the financial markets as proof.
Minneapolis Fed President Neel Kashkari will be present at a town hall forum in Bozeman, Montana. Finally, New York Fed President John Williams is due to participate in a tour of Buffalo with members of the Partnership for the Public Good and a visit of HarborCenter.
Treasurys
Trade anxiety continues to worry markets worldwide, as investors await news surrounding the U.S.' future trading relationship with the likes of Canada and China.
The U.S. and Canada failed to secure a new agreement on Friday, to replace the current North American Free Trade Agreement (NAFTA) pact ā meaning that extended talks are likely to continue in the coming days, potentially weeks.
In the latest surrounding NAFTA, Canadian Prime Minister Justin Trudeau said on Tuesday that the country wouldn't bow to certain requests at the talks this week with the U.S., according to Reuters.
In spite of this, officials from both nations will meet today, to try and settle differences in order to secure a future deal on trade.
Meanwhile, markets in China remain on edge after a report from Bloomberg last week revealed that the U.S. administration was on standby to inflict additional levies on $200 billion worth of Chinese goods as soon as this week.