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US Treasurys trade higher following ECB decision for steady rate

U.S. government debt prices were higher on Thursday, as investors analyzed the European Central Bank's latest monetary policy decision to hold rates steady.

The yield on the benchmark 10-year Treasury note was down at 2.261 percent, while the yield on the 30-year Treasury bond was also lower at 2.829 percent. Bond yields move inversely to prices.

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US 1-YR
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On the central bank front, investors in Europe and the U.S. scrutinized the European Central Bank's dovish decision to hold interest rates steady at 0.00 percent on Thursday.

"If the outlook becomes less favorable, or if financial conditions become inconsistent with further progress towards a sustained adjustment in the path of inflation, the Governing Council stands ready to increase the program in terms of size and/or duration," the ECB said in its policy announcement alongside its latest rate decision.

Meanwhile, the Bank of Japan kept its monetary policy unchanged after its two-day meeting on Thursday, but cut inflation forecasts for the next two fiscal years.

In data news, investors also pored over weekly jobless claims, which totaled 245,000 in the most recent week, down slightly from the 247,000 claims reported for the previous week.

It will also announce the size of a 13-week and 26-week bills auction, as well as the size of a 2-year, 5-year and 7-year notes auction. The size of a two-year floating-rate notes (FRNs) auction will also be announced.

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Politics is likely to be at the back of investors' minds, as they keep an ear out for any news coming from the White House, in relation to health care and the Russia-linked scandal which continues to rumble on.

Meanwhile oil pared earlier gains. Analysts offered mixed supply stances for the commodity ahead of a OPEC meeting next week, Reuters reported.

Brent crude traded at around $49.37 a barrel on, down 0.66 percent, while U.S. crude was also lower around $46.80 a barrel, down 0.68 percent.

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