U.S. government debt prices were mixed on Thursday after the Federal Reserve said it is ready to unwind its $4.5 trillion balance sheet.
Unwinding the balance sheet is significant both because of its sheer size and the impact it could have on markets, as Fed members including Chair Janet Yellen have indicated that the move itself would amount to a rate hike.
Also lifting most bond prices were comments from House Speaker Paul Ryan in which he indicated that tax reform is still a ways off.
Investors digested initial jobless claims, which came in below expectations and awaited President Donald Trump's meeting with China's President Xi Jinping at Mar-a-Lago in Florida.
The yield on the benchmark 10-year Treasury note was lower at around 2.35 percent, while the yield on the 30-year Treasury bond was lower at 2.997 percent.
The two-year note yield also jumped to 1.254 percent. Yields move inversely to prices.
In oil markets, Brent crude traded at around $54.88 a barrel, up 0.96 percent on Thursday, while U.S. crude was around $51.72 a barrel, up 1.11 percent.