Treasury yields remained largely unchanged on Wednesday morning, with Powell expected to speak at 2 p.m. ET that day.
Meanwhile, the core inflation rate for the U.S. in January is expected to be released at 8:30 a.m. ET.Weekly EIA stocks change data for crude oil, Cushing crude oil, distillate and gasoline is also set for release at that time. The U.S. government's 2021 full-year budget plan is due out at 12:30 p.m. ET. The government's monthly budget statement for January is then expected to be released at 2 p.m. ET.
Auctions will be held Wednesday for $25 billion of 105-day bills, $30 billion of 154-day bills and $41 billion of 10-year notes.
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