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Treasury yields, dollar slip after Yellen flags inflation uncertainty

US Treasuries yields declined on Wednesday, along with the US dollar, after Janet Yellen acknowledged that inflation is a key policy uncertainty.

The two-year yield was down 2.41 bps (0.0241 percentage point) to 1.351 per cent following the release of prepared remarks from the Federal Reserve chair. Meanwhile, the 10-year yield slipped 3 bps to 2.329 per cent. Bond yields move in the opposite direction of prices.

The US dollar extended its fall against the Japanese yen and was recently off 0.6 per cent at Y113.23 — it traded at about Y113.6 ahead of release. The euro also turned black against the buck trading higher by 0.06 per cent at$1.1474.

US stock-index futures pushed higher, with S&P 500 futures recently climbing 0.3 per cent to 2,431.1.