WASHINGTON (dpa-AFX) - Treasuries showed a notable move to the downside during trading on Thursday, extending the downward trend seen over the past several sessions.
Bond prices came under pressure early in the session and remained firmly negative throughout the day. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 4.1 basis points to 4.475 percent.
With the increase on the day, the ten-year yield closed higher for the fifth time over the past six sessions.
The continued weakness among treasuries reflected renewed concerns about the outlook for interest rates following yesterday's slightly hawkish Fed minutes.
With the minutes signaling rates are likely to remain higher for longer than previously expected, the chances rates will be lower by September have fallen to 55.4 percent, according to CME Group's FedWatch Tool.
Potentially adding to the rate concerns, the Labor Department released a report this morning showing first-time claims for U.S. unemployment benefits fell by more than expected in the week ended May 18th.
The Labor Department said initial jobless claims slid to 215,000, a decrease of 8,000 from the previous week's revised level of 223,000.
Economists had expected jobless claims to edge down to 220,000 from the 222,000 originally reported for the previous week.
Trading on Friday may be impacted by reaction to a report on durable goods orders as well as a revised reading on consumer sentiment.
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