The Treasury curve remained inverted on Wednesday, with yields on three-month bills trading above yields on 10-year notes for the second consecutive session.
The move is seen by many as a recession signal. It comes as market participants continue to assess the potential economic impact of China's fast-spreading coronavirus.an additional 1,749 cases of the coronavirus nationwide, with 136 deaths. As of Feb. 18., the commission said there had been a total of 74,185 confirmed cases and 2,004 cumulative deaths.On the data front, the Labor Department will publish its producer price index for January at 8 a.m.
An advanced fourth-quarter reading of the Census Bureau's Quarterly Services Survey will be released slightly later in the session.is also scheduled to publish its meeting minutes from December, when policymakers at the U.S. central bank decided to hold the federal funds rate steady between a range of 1.5% to 1.75%.
Atlanta Fed President Raphael Bostic, Minneapolis Fed President Neel Kashkari, Dallas Fed President Robert Kaplan, Richmond Fed President Tom Barkin and Cleveland Fed President Loretta Mester are all expected to comment on the world's largest economy at separate events on Wednesday.
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