U.S. government debt prices were higher on Thursday amid uncertainty surrounding some of President-elect Donald Trump's policies.
The Federal Reserve's December minutes showed President-elect Donald Trump's proposals to stimulate growth may trigger higher inflation. Based on those expectations, Goldman Sachs raised its year-end forecast for 10-year Treasury yields to 3 percent from 2.75 percent on Thursday, Reuters reported.
In an interview with CNBC, San Francisco Fed President John Williams said fiscal stimulus brought about by the new administration may not kickstart growth as aggressively as many think.
"More fiscal stimulus, I think, will have a modest effect on economic growth over the next couple of years," the nonvoting Fed official told "Power Lunch."