WASHINGTON (dpa-AFX) - Treasuries came under pressure during trading on Thursday, extending the downward trend seen over the past several sessions.
Bond prices regained some ground after an initial move to the downside but remain in negative territory. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 3.1 basis points to 4.369 percent.
The ten-year yield closed higher for the fourth time in the past five sessions, reaching its highest closing level in a month.
The weakness among treasuries came following the release of a largely upbeat batch of U.S. economic data, including a Commerce Department report showing the economy grew slightly faster than previously estimated in the fourth quarter of 2024.
The Commerce Department said gross domestic product surged by 2.4 percent in the fourth quarter compared to the previously reported 2.3 percent jump. Economists had expected the pace of GDP growth to be unrevised.
A separate report released by the National Association of Realtors showed pending home sales saw a significant rebound in the month of February after plunging to an all-time low in January.
Meanwhile, traders once again shrugged off concerns about President Donald Trump's trade policies after he announced plans to impose 25 percent tariffs on auto imports.
Trump also told reporters on Wednesday that the reciprocal tariffs set to take effect on U.S. trade partners next week will be 'very lenient.'
However, Trump also threatened in a Truth Social post early this morning that he would impose far larger tariffs than currently planned 'if the European Union works with Canada in order to do economic harm to the USA.'
The Federal Reserve's preferred readings on consumer price inflation, which are included in a report on personal income and spending, are likely to in the spotlight on Friday.
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