us treasury yields slipped on wednesday as investors awaited the release of the federal reserves december meeting minutes which could provide hints about the central banks monetary policy plans at 342 am et the yield on the 10year treasury was down by more than 10 basis points to 36902 the 2year treasury yield had fallen by almost 7 basis points and was trading at 43368 yields and prices move in opposite directions and one basis point is equivalent to 001 several key data points are due to be released on wednesday with many investors hoping to gain fresh insights into the outlook for the us economy as a recession looms this includes the ism purchasing managers index for december which reflects whether factory activity in the manufacturing sector is growing or contracting and at what pace novembers figure indicated a contraction for the first time since may 2020 jolts job openings data will also be released on wednesday ahead of further labor market data due later in the week investors will also be scanning the feds december meeting minutes for clues about the central banks economic expectations for the year ahead and its interest rate policy plans after their last meeting in december fed officials indicated rates could go higher still and remain elevated throughout 2023 the fed implemented four consecutive 75 basis point rate hikes followed by a 50 basis point increase at its december meeting throughout 2022 concerns about this pace dragging the us economy into a recession have spread among investors in recent months