U.S. Treasury yields were lower on Friday as investors weighed this week’s flood of key data and considered the state of the economy.
The yield on the 10-year Treasury ticked down 4.3 basis points to 3.883%, hovering around the 3.9% level it had crossed Thursday. The 2-year Treasury yield lost 4.9 basis points to 4.052%.
Yields and prices move in opposite directions. One basis point equals 0.01%.
Yields had jumped on Thursday after U.S. retail sales figures for July came in higher than expected, surging 1% in the month. Economists polled by Dow Jones had been expecting a 0.3% increase.
The data signaled robust consumer spending, easing fears of a recession if not an economic slowdown. Weekly initial jobless claims also came in below expectations on Thursday, calming concerns about the state of the labor market.
Jitters about the health of the labor market and wider economy surged earlier this month after July’s jobs report turned out…
