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US Treasurys rise as investors digest Fed minutes, data deluge

Bond traders at CME Group
Getty Images

U.S. government debt prices rose on Thursday as investors digested the U.S. Federal Reserve's release of its April minutes and several pieces of data.

The yield on the benchmark 10-year Treasury note, which moves inversely to the price, dipped to 1.846 percent, while the yield on the 30-year Treasury bond also slid to 2.641 percent. Two-year yields fell as well and last traded at 0.879 percent.

Symbol
Yield
 
Change
%Change
US 3-MO
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US 1-YR
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US 2-YR
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US 5-YR
---
US 10-YR
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US 30-YR
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The Fed minutes, published Wednesday, pointed to a rate hike in June if economic data improves.

On the data front Thursday, initial jobless claims totaled 278,000, above the expected 275,000. The Philadelphia Fed business index came in at -1.8, well below the expected +3.5 reading.

Leading indicators rose 0.6 percent in April, more than the expected 0.4 percent gain.

Meanwhile, New York Fed President Bill Dudley said a summer rate hike was likely if economic data cooperated.

"To reiterate what some of my colleagues have said, June is definitely a live meeting," he said. "[It] depends on how the economy is going to evolve."