The yield on the 10-year Treasury note declined Thursday as investors sifted through a batch of economic data and prepared for next week’s Federal Reserve meeting.
The yield on the 10-year Treasury was down 4 basis points to 4.244%. The 2-year Treasury yield rose about 2 basis points to 4.431%.
Yields and prices move in opposite directions. One basis point equals 0.01%.
Yields ticked up slightly after a Commerce Department report suggested that economic growth has been stronger than expected. The gross domestic product grew at a 2.8% annualized pace in the second quarter. Economists surveyed by Dow Jones were expecting GDP to rise at an annualized growth rate of 2.4%.
Meanwhile, initial jobless claims for last week came in at 235,000, matching expectations.
This week has shown conflicting signs of which way the U.S. economy is headed.
Data released Wednesday from the manufacturing sector for July came in below expectations, with the U.S….
