Treasury Yields Higher as Trump Faces Impeachment Inquiry

U.S. government obligation prices were lower Wednesday morning, after the launch of a conventional indictment inquiry into President Donald Trump. At around 02:30 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to cost, was lower at around 1.6507%, while the yield on the 30-year Treasury bond was also lower at around 2.1022%.

Democrats in the U.S. House of Representatives have accused the president of seeking outside assistance to smear Democratic opponent Joe Biden in front of one year from now's a political decision. Trump has dismissed the inquiry as another Democratic endeavor to unfairly target him.

The emotional move has increased the prospect of drawn-out political uncertainty in the world's largest economy. It comes during an era of delicate market sentiment, with investors officially anxious about upcoming U.S.- China exchange talks.

Trump harshly censured China's exchange practices a speech at the United Nations in the previous session, hosing hopes for a comprehensive breakthrough in front of abnormal state talks toward the beginning of October.

On the information front, new home sales for August will be released at around 10:00 a.m. ET.

The U.S. Treasury is set to auction $41 billion of every five-year notes and $18 billion in drifting rate notes (FRNs) on Wednesday.