The 10-year U.S. Treasury yield held above the 1.4% level on Thursday morning, ahead of the U.S. Department of Commerce releasing its second estimate for fourth-quarter gross domestic product.
The yield on the benchmark 10-year Treasury note climbed to 1.434% at 3:50 a.m. ET. The yield on the 30-year Treasury bond rose to 2.296%. Yields move inversely to prices.
An update to the fourth-quarter GDP estimate is expected at 8:30 a.m. ET. The Commerce Department first estimated that U.S. GDP grew 4% in the last three months of 2020, in its report released last month, which was slightly below the 4.3% expectation from economists surveyed by Dow Jones.
Weekly data for new unemployment insurance claims is also due out at 8:30 a.m. ET. Economists surveyed by Dow Jones are expecting 845,000 new claims.
Data for durable goods orders in January is due out at the same time.
Pending home sales data for January is expected later at 10 a.m. ET.
The Federal Reserve’s Vice Chair for Supervision Randal Quarles is scheduled to talk at the Atlanta Fed’s 2021 banking outlook conference at 11:10 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 Pippa Stevens contributed to this report.
