10-Year Treasury Yield Inches Lower After Jobless Claims Data Is About as Expected

Source: NYSE

U.S. Treasury yields remained little changed on Thursday after weekly jobless claims data came in line with expectations.

The yield on the benchmark 10-year Treasury note fell 2.4 basis points to 1.58%. The yield on the 30-year Treasury bond moved 3.1 basis points lower to 1.966%. Yields move inversely to prices and 1 basis point is equal to 0.01%.

The number of jobless claims filed during the week ended Nov. 13 totaled 268,000. Economists polled by Dow Jones are expecting initial filings for unemployment insurance fell to 260,000 last week, from the previous week's 267,000 claims.

The benchmark 10-year rate had climbed earlier in the week, following strong retail sales and a higher-than-expected increase in the National Association of Home Builders Housing Market index. The strong economic data stoked concerns about the pace at which the Federal Reserve will normalize monetary policy, particularly amid rising inflation.

Auctions were held on Thursday for $10 billion of 4-week bills, $25 billion of 8-week bills and $14 billion of 10-year Treasury Inflation-Protected Securities.

CNBC's Maggie Fitzgerald contributed to this market report.

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