U.S. Treasury yields were little changed Thursday as investors awaited key jobs and inflation data this week.
The yield on the benchmark 10-year Treasury note ticked up 1 basis point to 3.042%, while the yield on the 30-year Treasury bond rose less than 1 basis point to 3.182%. Yields move inversely to prices, and a basis point is equal to 0.01%.
Treasurys
The moves come as market participants assess the prospect of interest rate rises in Europe and closely monitor economic data that could shape the Federal Reserve’s rate-hiking strategy.
The European Central Bank confirmed its plan to hike interest rates in July. The central bank also revised its growth projections down and its inflation projections up.
On the data front, U.S. initial jobless claims for the week ending June 2 will be released at around 8:30 a.m. ET.
Markets are also looking ahead to May’s consumer price index reading on Friday, with the print likely to be influential in the scale and speed of the Fed’s monetary tightening path. The White House has acknowledged that it expects an uptick in inflation on Friday.
The Treasury on Thursday is scheduled to auction $35 billion in 4-week bills, $30 billion in 8-week bills and $19 billion in 29-year and 11-month bonds.
— CNBC’s Elliot Smith contributed to this report.
