US Treasury yields remained near flatline on Thursday as investors processed new data on weekly jobless claims. The 10-year Treasury yield briefly jumped above 4.6% but settled at 4.581%, while the 2-year Treasury yield declined by 1 basis point to 4.329%.
According to the Labor Department, the number of Americans without jobs rose to 1.91 million for the week ending December 21, a significant increase from the previous period. This is slightly lower than the predicted 225,000 figure from Dow Jones.
Notably, continuing claims have reached their highest level since November 2021, up 46,000 from the previous week. The Federal Reserve’s revised rate-cut projections have also contributed to this upward trend in yields, with the benchmark 10-year rate rising over 40 basis points this month.
Investors are closely monitoring these developments as they signal a shift towards more cautious economic forecasts.
Source: https://www.cnbc.com/2024/12/26/10-year-treasury-yield-rises-above-4point6percent-ahead-of-jobless-claims.html