Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, April 16, 2018.

Michael Nagle | Bloomberg | Getty Images

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, April 16, 2018.

Investors in the U.S. will be monitoring the bond market today. In the previous session, the benchmark 10-year Treasury yield fell slightly after notching a fresh seven-year high earlier on in the trading day. The 30-year bond yield also reached its highest point since 2014.

On Wednesday, bond yields continue to tick higher. Concerns surrounding rising interest rates continue to keep investors on edge, as market participants debate what this could mean for the domestic economy and monetary policy going forward.

Meanwhile, mortgage applications are due out at 7 a.m. ET on Wednesday, followed by the all-important producer price index (PPI) figures at 8:30 a.m. ET and wholesale trade at 10 a.m. ET.

On the central bank front, a slew of speeches are scheduled to take place. Chicago Fed President Charles Evans will be in Michigan at the Flint & Genesee Chamber of Commerce luncheon; while in Georgia, Atlanta Fed President Raphael Bostic is set to make an appearance at a National Association of Corporate Directors event in Atlanta.

Elsewhere, investors will be bracing for any news out of the political sphere, as the midterm elections – due in November – draw closer.

On the corporate front, Fastenal is set to publish its latest earnings results.

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