U.S. Treasury yields as investors weigh economic outlook [Video]

U.S. Treasury yields rose on Wednesday as investors considered the latest economic data and weighed the state of the economy.

At 6:30 a.m. ET, the 10-year Treasury yield was last up by 3.5 basis points to 4.633%. The 2-year Treasury yield was last more than three basis points higher to 4.941%.

Yields and prices move in opposite directions. One basis point equals 0.01%.

Investors weighed economic data as uncertainty about the state of the economy and how this could affect Federal Reserve monetary policy decisions continued.

On Tuesday, the S&P Global Flash manufacturing PMI for the U.S. came in at a four-month low of 49.9 for April. Readings below 50 indicate that the sector is contracting. The data therefore suggested to investors that the economy may be easing slightly.

That comes as recent economic data has widely suggested resilience in the economy in the face of elevated interest rates and persistent inflation. Expectations for when interest rates will be …