Treasury Yields Drop Ahead of Key Economic Data Amid Global Bond Sell-Off
U.S. Treasury yields fell across all maturities on Thursday as traders awaited key economic data to assess the domestic economy's health, following a sharp sell-off in global bond markets. The 10-year Treasury yield dropped more than two basis points to 4.7680%, while the 30-year and 2-year yields also declined slightly. The drop came after Wednesday’s session saw multi-year highs for the 10-year note, driven by inflation concerns and worries over rising debt levels. Investors are preparing for Friday's nonfarm payrolls report expected to show a modest job gain of 58,000 with unemployment unchanged at 4.1%. The ISM services PMI data due Thursday is also anticipated to provide insight into economic momentum.
Topics: Federal Reserve inflation concerns Middle East tensions Treasury yields