Treasury yields climb ahead of weekly jobless claims data

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The 10-year US Treasury yield held above 1.64% Thursday morning, ahead of the release of weekly jobless claims data.

The benchmark 10-year Treasury bill yield gained 1 basis point to 1.649% at 3:50 am ET. The yield on 30-year Treasuries climbed less than a basis point to 2.118%. Yields move in the opposite direction of prices and 1 basis point equals 0.01%.

The 10-year rate hit 1.67% earlier this week as investors expected strong earnings, raising hopes for a continued economic recovery.

The Labor Department is due to release the number of jobless claims filed during the week ended Oct. 16 at 8:30 a.m. ET Thursday.

Last week, the number of weekly unemployment insurance claims fell below 300,000 for the first time since the start of the coronavirus pandemic. Investors will be watching whether jobless claims continue to decline, especially as the Federal Reserve has indicated it will begin to normalize monetary policy soon, as the central bank moves closer to its economic targets.

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Meanwhile, September existing home sales data is due at 10 a.m. ET.

Fed Governor Christopher Waller is expected to discuss the U.S. economy at the Official Monetary and Financial Institutions Forum at 9 a.m. ET.

Auctions are scheduled for Thursday for $ 60 billion in four-week bills, $ 25 billion in eight-week bills and $ 19 billion in five-year inflation-protected Treasury securities.


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