The benchmark 10-year Treasury yield dipped on Thursday as investors assessed data that may suggest a sluggish economy and awaited several speeches from Federal Reserve policymakers that may help point the way for interest rates.
The 10-year Treasury yield fell to 4.398%, while the yield on the 2-year Treasury slipped to 4.306%.
Yields and prices move in opposite directions. One basis point equals 0.01%.
Two economic reports out Thursday may signal nascent economic weakness. Continuing claims for jobless insurance climbed to 1.908 million from 1.872 million last week, 25,000 more than the Street's estimate of 1.883 million. And the Philadelphia Federal Reserve manufacturing index of activity in the region slowed to -5.5 in November against economists' estimate of +6.9 and October's +10.3.
Existing home sales for October and the Kansas City Fed survey for November are scheduled to follow later in the day.
Fixed income investors are also monitoring scheduled remarks by Federal Reserve policymakers for hinst as to how the central bank may direct interest rates later this fall and winter, having already lowered rates in both September and November.
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.
Money Report
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."
Also hanging over the bond market are President-elect Donald Trump's potential picks for Treasury secretary, with concerns tied to the candidates' experience and policy beliefs, as well as the latest developments in the Russia-Ukraine war, with tensions between Washington and Moscow mounting this past week as Moscow and Kyiv exchanged missile attacks.
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— CNBC's Scott Schnipper, Samantha Subin and Sophie Kiderlin contributed to this report.
