U.S. Treasury yields were little changed Thursday as investors considered the latest economic data and weighed the outlook for interest rate cuts.
The yield on the 10-year Treasury ticked up about 1 basis point to 4.288%. The 2-year Treasury yield added less than 1 basis point on the day to 4.73%.
Yields and prices move in opposite directions, and one basis point is equivalent to 0.01%.
The European Central Bank announced its first interest rate cut since 2019 on Thursday, even as inflationary pressures in the eurozone have lingered. The move will likely increase the pressure on the U.S. Federal Reserve to follow suit and walk back monetary policy that investors view as too restrictive. The Fed is due to meet next week, but rate cuts in the U.S. are not expected to begin until later in the year.
Canada became the first country in the Group of Seven to reduce interest rates in the current cycle on Wednesday, following cuts from central…
