US Treasury yields were slightly lower on Thursday as investors awaited key jobs and inflation data this week.
Yield on Benchmark 10 year treasury note fell 1 basis point to 3.0141%, while the yield 30 Year Treasury Bond also slipped by about 1 basis point to 3.1638%. Yields move inversely to prices, and one basis point equals 0.01%.
The move came as market participants assessed the prospect of a hike in interest rates in Europe and closely monitored economic data that could shape the Federal Reserve’s rate-hike strategy.
The European Central Bank is on Thursday widely expected To signal a rate hike in July to end its net asset purchases and tackle rising inflation. The key question for investors is how aggressive this turnaround will be in the coming months.
On the data front, US initial jobless claims for the week ended June 2 will be released at approximately 8:30 p.m. ET.
Markets are expecting a May consumer price index reading on Friday, with the scale and pace of the Fed’s monetary tightening likely to be impressive in print. The White House has acknowledged it expects inflation to rise on Friday.
The Treasury is scheduled to auction Thursday $35 billion in 4-week bills, $30 billion in 8-week bills and $19 billion in 29-year and 11-month bonds.
— CNBC’s Elliot Smith contributed to this report.