Tickmill analyst Joseph Dahrieh stated in a report that US CPI inflation data could cause US Treasury yields to move in either direction. Higher than expected CPI could boost yields and ease recent expectations of a Fed rate cut.

Conversely, soft inflation data will lead to a decrease in yields. He also stated that progress towards a ceasefire between Ukraine and Russia could help boost risk appetite. Currently, institutional surveys of analysts show that overall and core inflation rates in the US for February are expected to slightly decrease.