Traders work on the floor of the New York Stock Exchange during morning trading in New York City.
U.S. Treasury yields were steady on Thursday as investors parsed fresh inflation and jobless claims data, showing inflation rising more than expected while the labor market cooled.
The 10-year Treasury yield was less than 1 basis point higher at 4.073%, while the 2-year Treasury was less than 1 basis point lower at 4.012%.
Yields move inversely to prices. One basis point equals 0.01%.
Treasurys were moving as investors assessed a series of economic data. The consumer price index increased 0.2% in September and 2.4% year-over-year, above economists' estimates of a 0.1% increase on a monthly basis, and a 2.3% advance over the prior 12 months, based on a Dow Jones survey. Jobless claims also made an unexpected advance. Initial filings for unemployment benefits rose to 258,000 for the week ending Oct. 5, which is the highest total since August 2023.
Meanwhile, an auction of 30-year Treasury bonds is also scheduled for later in the day Thursday.
Yields had risen Wednesday as minutes from the Federal Reserve's policy meeting in September, when the central bank lowered benchmark borrowing costs to a range of 4.75% to 5.0%, pointed to some division over the size of the rate cut.
Money Report
"The Fed has shown that they're willing to let inflation potentially run hotter than normal in favor of full employment," said Skyler Weinand, chief investment officer at Regan Capital. "Only a rise towards 4% inflation or a few hot inflation prints in a row would alter the Fed's course of continued rate cuts over the next year."
Ten-year Treasury yields have been climbing steadily recently, rising above 4% Monday after last week's stronger labor market readings, and following the Fed's cut.
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In recent days, yields hit their highest level in more than two months.
