India, Feb. 12 -- Treasuries moved sharply lower during trading on Wednesday as investor reacted to hotter than expected consumer price inflation data.
Bond prices showed a significant move to the downside early in the session and remained firmly negative throughout the day. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, jumped 10.0 basis points to 4.637 percent.
The sell-off by treasuries came following the release of a closely watched Labor Department report showing consumer prices in the U.S. increased by more than expected in the month of January.
The Labor Department said its consumer price index advanced by 0.5 percent in January after climbing by 0.4 percent in December. Economists had e...