U.S. Treasury yields rose on Thursday morning as the fourth-quarter GDP reading for the United States came in lower than expected.
The yield on the benchmark 10-year Treasury note rose to 1.031% at 9 a.m. ET, while the yield on the 30-year Treasury bond declined to 1.787%. Yields move inversely to prices.
The rise in yields also came after the Federal Reserve said Wednesday that it was keeping its benchmark interest rate anchored near zero.
Following the conclusion of its two-day meeting, the U.S. central bank also said it was maintaining its asset purchase program, which sees it buying at $120 billion of bonds a month.
“The economy is a long way from our monetary policy and inflation goals, and it’s likely to take some time for substantial further progress to be achieved,” Fed Chairman Jerome Powell said at his post-meeting news conference. Policy will remain “highly accommodative as the recovery progresses,” he added.
New home sales data for December is expected out at 10 a.m. ET.
Auctions will be held Thursday for $30 billion of 4-week bills, $35 billion of 8-week bills and $62 billion of 7-year notes.
— CNBC’s Patti Domm and Jeff Cox contributed to this article.
