U.S. government debt yields jumped off their session lows Thursday after the first print on fourth-quarter gross domestic product growth topped Wall Street's expectations.
At around 2:03 p.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 2.719 percent, while the yield on the 30-year Treasury bond was higher at 3.096 percent.
U.S. economic growth was better than expected as 2018 came to a close, with GDP rising 2.6 percent, according to a first estimate the government released Thursday.
Economists surveyed by Dow Jones expected a gain of 2.2 percent after a 3.4 percent rise in the third quarter. Worries that a global slowdown would infect the U.S intensified during the period, while investors worried that the Federal Reserve would continue to raise interest rates even as financial conditions tightened.
Even with the weaker fourth quarter, economic growth was solid for the year, after GDP gains of 2.2 percent and 4.2 percent in the first and second quarters respectively. The report also comes on the heels of mixed signs in the economy.
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President Donald Trump and North Korean leader Kim Jong Un were unable to reach a deal at the end of two days of meetings in Hanoi, the White House said Thursday.
Earlier Trump and Kim, seated together at a conference table, appeared confident about the prospect of improving diplomatic relations.
Treasurys
But, the pair were ultimately unable to agree after the U.S. refused North Korean demands for sanctions relief.
"They wanted the sanctions lifted in their entirety and we couldn't do that," Trump said at a news conference.
The U.S. president said no plans had been made for a third summit.
Meanwhile, Federal Reserve Chairman Jerome Powell is scheduled to speak at the Citizens Budget Commission 87th annual awards dinner in New York on Thursday.
Market participants are also likely to closely monitor comments from Fed Vice Chair Richard Clarida, Atlanta Fed President Raphael Bostic, Philadelphia Fed President Patrick Harker, Dallas Fed President Robert Kaplan and Cleveland Fed President Loretta Mester at various events around the country.
— CNBC's Jeff Cox contributed reporting.
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