Upcoming Economic Data May Push 10-Year Note Yield To 3%

Investing.comJust two weeks ago, it seemed like the yield on the ten-year Treasury note was about to hit 3%.But market concerns about rising inflation and a potential glut of new debt eased and the yield drifted down from its four-year high of 2.95%. Even Fed Chairman Jerome Powell's hawkish sounding comments on the economy weren't enough to push yields through the important 3% level.Still, most market watchers believe it's only a matter of time before it happens. And that could be in as little as two weeks with the release of two key economic reports. The February jobs report is due out March 9th. Within that report will be closely watched data on wages, which triggered inflationary concerns a month ago.The consumer price index, which also spooked investors a month ago, is . Analysts say higher-than-expected readings on wage and price inflation could combine to break the 3% barrier.