Jamie Chisholm is a markets reporter based in London.
U.S. bond yields initially rose early Wednesday as rising oil prices and recent signs the U.S. economy remains resilient increased concerns the Federal Reserve may have to keep interest rates higher for longer to quell inflation.
The initial move comes after a strong retail sales report released the previous day points to a U.S. economy remaining resilient which, along with recent data showing inflation is sticky, suggests the Federal Reserve may need to keep interest rates higher for longer. Markets are pricing in a 90% probability that the Fed will leave interest rates unchanged at a range of 5.25% to 5.50% after its next meeting on November 1, according to the CME FedWatch tool.
U.S. economic updates set for release on Wednesday include September housing starts and building permits at 8:30 a.m., and the Fed Beige Book at 2 p.m.. All times Eastern.
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