At around 03:30 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 2.4246%, while the yield on the 30-year Treasury bond was also lower at around 2.8408%.
Market participants are likely to closely monitor the release of the U.S. central bank’s meeting minutes later in the session.
The Federal Reserve is expected to provide insight into the May 1 meeting, when policymakers left interest rates unchanged and signaled little appetite to adjust them any time soon.
Meanwhile, St. Louis Fed President James Bullard and Atlanta Fed President Raphael Bostic are both set to comment on the world’s largest economy at separate events on Wednesday.
The speeches come after Fed Chairman Jerome Powell said Monday that rising levels of corporate debt did not pose an immediate threat to the financial system. The issue of corporate debt has surfaced as companies continue to use the low rates the Fed has provided to lever up their balance sheets.
No major Treasury auctions or economic data reports were expected on Wednesday.