Treasury yields edge higher amid concerns about stubborn inflationary pressures

Treasury yields rose Tuesday morning as revived inflation angst trumped concerns about a slowing global economy.

The batch of weak economic data from China and Europe was shrugged off by fixed-income traders, with bond yields moving higher as inflation concerns held sway. Investors focused on last Friday’s nonfarm payrolls report that showed the U.S. labor market still in good health, and comments from Cleveland Federal Reserve President Loretta Mester, who said inflation remains too high.

In an interview with CNBC Tuesday, Federal Reserve Gov. Christopher Waller said policy makers can afford to “proceed carefully” with interest-rate increases.

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