The benchmark 10-year Treasury yield dipped on Thursday as investors await a fresh batch of economic data and a flurry of speeches from Federal Reserve policymakers.
The 10-year Treasury yield fell more than 1 basis point to 4.390%, while the yield on the 2-year Treasury slipped by nearly 2 basis points to 4.291%.
Yields and prices move in opposite directions. One basis point equals 0.01%.
Treasurys
It comes as investors continue to monitor the latest developments in the Russia-Ukraine war, with tensions between Washington and Moscow soaring in recent days.
Market participants are also scrutinizing President-elect Donald Trump’s potential picks for Treasury secretary, with concerns pertaining to the candidates’ experience levels and track record.
On the data front, the latest weekly initial jobless claims and the Philadelphia Fed manufacturing index for November will both be released at 8:30 a.m. ET on Thursday.
Existing home sales for October and the Kansas City Fed survey for November are scheduled to follow slightly later in the session.
Cleveland Fed President Beth Hammack, Chicago Fed President Austan Goolsbee, Kansas City Fed President Jeff Schmid, Fed Vice Chair for Supervision Michael Barr are all poised to deliver remarks about the U.S. economy on Thursday.
Fed Governor Michelle Bowman warned on Wednesday that the fight to bring inflation back to the central bank’s 2% target “appears to have stalled.”
— CNBC’s Samantha Subin and Sophie Kiderlin contributed to this report.