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TREASURIES-U.S. yields firm as new supply soaked up and CPI in focus

U.S. Treasury yields firmed on Wednesday as investors weighed the chances that the Federal Reserve will lower rates one or more times this year while digesting a plenitude of new Treasury debt and awaiting important inflation data next week. On Wednesday, the Treasury sold $42 billion in 10-year notes at a high yield of 4.483%, a smidge under where the when-issued appeared to be trading on the screens around the close of bidding. Gennadiy Goldberg, head of U.S. rates strategy at TD Securities in New York said that despite a small tail -- the difference between the average price and the lowest bid that got a 10-year note at the auction -- it and the bid-to-cover were in line with recent averages.