U.S. Treasury yields were higher on Thursday as investors anticipated further economic data and digested U.S. President Donald Trump’s latest tariff threats.
At 5:22 a.m. ET, the benchmark 10-year yield Treasury yield rose over six basis points to 4.31%, and the 2-year Treasury yield was over four basis points higher at 4.112%.
Treasurys
Investors have had a busy week of data releases including housing data and the consumer confidence survey.
Data on durable good orders for January is due at 8:30 a.m. ET, while the the GDP growth rate for the fourth quarter of 2024 will be released at the same time. The rate of GDP growth will offer insights into the health of the U.S. economy including how fast it grew in the previous quarter.
Investors will be focusing on the main data release of the week — the personal consumption expenditures index due Friday morning. The PCE is the Federal Reserve’s preferred inflation gauge.
The Fed’s next meeting on monetary policy and interest rate decisions will take place on March 18-19.
Investors are also concerned about U.S. President Donald Trump’s latest tariff threat made at at his first Cabinet meeting of his second term in office. The president said he intends to impose 25% duties on imports from the European Union and added that duties against Canada and Mexico would go into effect from April 2.
“We’ll be announcing it very soon,” he told reporters. “It’ll be [a] 25% [tariff] generally speaking, and that will be on cars and all other things.”