U.S. Treasury yields were higher on Thursday as investors reacted to the latest economic data and considered the outlook for interest rates.
The yield on the 10-year Treasury was up by nearly four basis point at 3.687%. The 2-year Treasury yield was last at 3.677% after adding three basis points.
Yields and prices move in opposite directions. One basis point equals 0.01%.
On Thursday, the producer price index, which tracks inflation on a wholesale level, showed a rise of 0.2% in August. That matched expectations of economists surveyed by Dow Jones. Prices for final demand excluding food, energy and trade services rose 0.3%, slightly higher than the 0.2% expected.
Weekly initial jobless claims data came in at 230,000. Economists were expecting 225,000, according to Dow Jones.
Thursday’s economic readings come after the consumer price index on Wednesday showing that prices rose 0.2% on a monthly basis, in line with expectations. But core…
