WASHINGTON (dpa-AFX) - Following the pullback seen in the previous session, treasuries saw some further downside during trading on Thursday.
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 3.9 basis points to 4.638 percent.
The ten-year yield added to the 2.5 basis point gain posted on Wednesday, bouncing further off the three-month closing low set on Tuesday.
Traders continued to cash in some of the recent strength in the bond markets amid lingering uncertainty about the outlook for interest rates.
The extended pullback came even though the Labor Department released a report showing initial jobless claims saw further upside in the week ended January 18th.
The Labor Department said initial jobless claims rose to 223,000, an increase of 6,000 from the previous week's unrevised level of 217,000. Economists had expected jobless claims to inch up to 220,000.
With the increase, jobless claims continued to regain ground after hitting a nearly eleven-month low in the week ended January 4th.
Traders also shrugged off President Donald Trump's comments at the World Economic Forum in Davos, Switzerland that he will 'demand that interest rates drop immediately.'
A report on existing home sales may attract attention on Friday along with a revised reading on consumer sentiment.
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