Treasury yields fell Thursday following the release of fresh U.S. unemployment data and a bond auction that was met with strong demand.
The yield on the 10-year Treasury was down more than 2 basis points at 4.457%. The 2-year Treasury yield dipped about 3 basis points to 4.815%.
Yields and prices move in opposite directions and one basis point is equivalent to 0.01%.
Weekly initial jobless claims came in at the highest level since August, reaching 231,000.
“While the absolute level of initial claims currently isn’t concerning, the upward surge in the data warrants caution. Continuing this pace would certainly lead to elevated unemployment on a relative basis,” Interactive Brokers senior economist José Torres wrote.
Yields were also under pressure after the Treasury Department sold $25 billion worth of 30-year bonds.
The data comes as investors weigh the chances of lower interest rates taking place this year. The bid-to-cover ratio, an…
