U.S. long-term Treasury debt prices edged higher for a third straight session on Wednesday on continued safe-haven demand as global tensions in the Middle East and Ukraine persisted.
Buying in Treasurys also held steady following Tuesday’s benign U.S. consumer inflation number, which suggested the Federal Reserve is not in a hurry to raise interest rates.
“We’re marginally higher and this is due to a combination of yesterday’s lower-than-expected U.S. core CPI (consumer price index) and geopolitical concerns,” said Jeffrey Young, U.S. rates strategist at Nomura in New York.
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