U.S. Treasury yields were lower on Thursday as investors looked ahead to key economic data and assessed the state of the economy.
At 5:01 a.m. ET, the 10-year Treasury yield was down by over three basis points to 4.5938%, falling back below the 4.6% mark it had crossed Wednesday for the first time in a month. The 2-year Treasury yield was last at 4.9622% after falling by more than two basis points.
Yields and prices move in opposite directions. One basis point is equivalent to 0.01%.
Investors awaited key economic data due toward the end of the week, with the latest personal consumption expenditures price index figures due Friday. The PCE is the Federal Reserve’s favored inflation gauge and investors will be watching it closely for hints about the outlook for central bank monetary policy, especially regarding when interest rate cuts may begin.
Personal spending and income data will be released alongside the PCE. Before then, weekly…
