U.S. Treasury yields are flat on Wednesday, as Federal Reserve officials restated their dovish views on easy monetary policy and inflation.
The yield on the benchmark 10-year Treasury note ticked 1.3 basis points higher to 1.577% by 4:00 p.m. ET. The yield on the 30-year Treasury bond were flat at 2.26%. Yields move inversely to prices. One basis point is equal to 0.01%.
Auctions were set to occur on Wednesday for $35 billion of 119-day bills, $61 billion of 5-year notes and $26 billion of 2-year floating-rate notes.
San Francisco Fed President Mary Daly told CNBC on Tuesday that while she was encouraged by the improvement in the economy, it was not yet time to change policy.
Meanwhile, Fed Vice Chair Richard Clarida said on Tuesday the central bank would be able to deal with rising inflation without derailing the economic recovery in the U.S.
Cole Smead, president and portfolio manager at Smead Capital, told CNBC's "Squawk Box Europe" on Wednesday that house prices were key for gauging inflation, because they have historically been higher than the consumer price index.
March's S&P CoreLogic Case-Shiller National Home Price Index, released Tuesday, showed house prices had jumped 13.2% from March 2020.
Smead argued that housing prices gave a "better forward indicator of inputs (and) the cost of labor rising."