U.S. Treasury yields were slightly higher on Friday as traders digested the jump in weekly jobless claims and what this could mean for interest rates.
The yield on the 10-year Treasury added more than 1 basis point to trade around 4.463%. The 2-year Treasury yield also rose by 1 basis point to 4.823%. Yields and prices move in opposite directions and one basis point is equivalent to 0.01%.
The moves come after yields on Thursday came under pressure following strong demand in the Treasury Department’s $25 billion auction of 30-year bonds.
Relief at the auction outcome means traders are now firmly focused — once again — on the interest rate trajectory of the Federal Reserve.
Weekly initial jobless claims, released Thursday, hit their highest level since August 2023, coming in at 231,000. Deutsche Bank strategists led by Henry Allen noted that Treasurys outperformed Thursday after the jobless claims data “led futures to dial up the…
