U.S. Treasury yields fell slightly on Thursday as investors looked to fresh economic data and comments from Federal Reserve officials as they weighed the outlook for interest rates.
At 4:27 a.m. ET, the yield on the 10-year Treasury was down by over one basis point to 4.5690%. The 2-year Treasury yield was last at 4.9198% after dipping by more than one basis point.
Yields and prices move in opposite directions and one basis point equals 0.01%.
Treasurys
| TICKER | COMPANY | YIELD | CHANGE |
|---|---|---|---|
| US1M | U.S. 1 Month Treasury | 5.47% | +0.091 |
| US3M | U.S. 3 Month Treasury | 5.467% | +0.078 |
| US6M | U.S. 6 Month Treasury | 5.368% | +0.002 |
| US1Y | U.S. 1 Year Treasury | 5.171% | +0.008 |
| US2Y | U.S. 2 Year Treasury | 4.922% | -0.01 |
| US10Y | U.S. 10 Year Treasury | 4.567% | -0.018 |
| US30Y | U.S. 30 Year Treasury | 4.684% | -0.015 |
Investors awaited fresh comments from Federal Reserve policymakers as uncertainty around when and how often interest rates will be cut this year persisted. Comments made by Fed Chairman Jerome Powell and other policymakers in recent days and weeks have added to these concerns.
Powell on Tuesday said that there had been “a lack of further progress” when it comes to inflation returning to the Fed’s 2% target range this year. The Fed has often said that it was looking for further evidence that inflation is easing sustainably, but Powell said recent economic data has not given central bank officials more confidence in this.
His comments came after the consumer price index for March came in higher than expected earlier this month. Expectations for when the first rate cut will take place have moved backward from the previously expected June date since then.
A series of further Fed officials are due to make remarks on Thursday and Friday, which investors will be scanning for fresh hints about the path ahead for monetary policy.
Also on Thursday, investors will be looking out for the latest weekly initial jobless claims figures and existing home sales data for March.
