U.S. government debt prices were higher Wednesday as investors monitor the apparent slowdown of new coronavirus cases and the potential economic fallout from the pandemic.
The International Monetary Fund (IMF) on Tuesday warned that the global economy in 2020 will likely suffer its worst recession since the Great Depression.
Stateside, signs that the pandemic is slowing gave risk assets a boost on Tuesday, offering hope that the economy could reopen sooner than initially feared.
However, the U.S. reported a new record number of daily deaths Tuesday, and the first batch of corporate earnings highlighted the dire consequences of worldwide economic shutdowns.
On the data front, U.S. retail sales for March are due at 8:30 a.m. ET, before manufacturing and industrial production figures at 9:15 a.m. ET.
Auctions will be held Wednesday for $30 billion of 103-day Treasury bills and $30 billion of 154-day bills.