U.S. Treasurys yields fell on Thursday with the 30-year yield hovering near record lows after a surprise interest rate cut from the Swiss central bank stoked demand for higher-yielding U.S. government securities.
The Swiss National Bank lowered its policy rates by 50 basis points, pushing them further into negative territory to -0.75 percent in an effort to help its exporters by easing upward pressure on its currency.
"It's a shock and investors feel, 'Let's just own Treasurys and be safe,"' said David Keeble, global head of interest rates strategy at Credit Agricole Corporate & Investment Bank in New York.
Trading was volatile after a batch of U.S. economic data failed to dispel worries about weakening domestic growth and a growing view the Federal Reserve might not raise interest rates in 2015, analysts said.
The Philadelphia Federal Reserve said on Thursday its index of regional business conditions declined to 6.3 in January, an 11-month low.
Moreover, the Labor Department said producer prices fell 0.3 percent in December for its biggest monthly drop in over three year, but it was less than an expected 0.4 percent.