U.S. government debt prices were higher on Thursday morning, as investors monitored economic data, Treasury auctions and Fed speeches.
At around 5:00 a.m. ET, the yield on the benchmark 10-year Treasury note was lower at 0.656%, while the yield on the 30-year Treasury bond was also down at 1.338%. Yields move inversely to prices.
The U.S. 10-year note had climbed to a high of 0.691% in the previous session, hitting its highest level since July 7. The 30-year bond rose to a high of 1.384% on Wednesday, its highest level since July 9, before paring gains.
It comes as market participants continue to assess the potential economic fallout in the wake of the coronavirus outbreak.
Three policymakers from the U.S. Federal Reserve warned on Wednesday that economic growth would most likely be muted until the virus was contained, Reuters reported.
To date, more than 20.6 million people have contracted the Covid-19 infection worldwide, with 749,421 related deaths, according to data compiled by Johns Hopkins University.
The U.S. Treasury will auction $35 billion in 8-week bills, $30 billion in four-week bills and $26 billion in 30-year bonds on Thursday.
On the data front, the latest weekly jobless claims figures will be published at 8:30 a.m. ET, with import prices for July due at the same time.
Atlanta Fed President Raphael Bostic and Fed Governor Lael Brainard are both scheduled to comment on the world’s largest economy at separate virtual events on Thursday.
