Fed Minutes to Stress Inflation Bias

Treasuries were little changed before minutes from the Federal Reserve's May meeting, which are expected to reiterate that inflation remains the biggest concern.

U.S. reports on consumer confidence and housing led interest-rate futures traders to scale back bets for a cut in borrowing costs this year. Yields on 10-year notes rose yesterday to the highest since January while an auction of $18 billion in two-year debt attracted fewer bids than the previous sale.