WASHINGTON (dpa-AFX) - After coming under pressure over the course of the previous session, treasuries showed a lack of direction throughout the trading day on Thursday.
Bond prices bounced back and forth across the unchanged line before ending the day roughly flat. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, crept up by less than a basis point to 4.327 percent.
The choppy trading on the day came as traders continued to digest the minutes of the latest Federal Reserve meeting, which suggested officials are in no hurry to begin cutting interest rates.
Traders also kept an eye on the rally on Wall Street, where upbeat earnings news from chipmaker Nvidia (NVDA) helped drive stocks to record highs.
In U.S. economic news, a report released by the Labor Department showed an unexpected dip in first-time claims for U.S. unemployment benefits in the week ended February 17th.
The Labor Department said initial jobless claims fell to 201,000, a decrease of 12,000 from the previous week's revised level of 213,000.
Economists had expected jobless claims to rise to 218,000 from the 213,000 originally reported for the previous week.
The National Association of Realtors also released a report showing a significant rebound in existing home sales in the month of January.
A lack of major U.S. economic data could lead to another choppy session in the bond market during trading on Friday.
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