U.S. government debt yields rose on Thursday after the European Central Bank decided to hold interest rates steady and President Donald Trump's administration appeared to be reaching some agreements on trade with European allies.
The yield on the benchmark 10-year Treasury note was higher at around 2.967 percent at 11:29 a.m. ET, while the yield on the 30-year Treasury bond was up at 3.093 percent. Bond yields move inversely to prices.
Treasurys
The euro zone's central bank elected to keep its key rates unchanged Thursday, meaning the ECB's interest rate on its main refinancing operations, its marginal lending facility and the deposit facility will remain unchanged at zero, 0.25 and -0.40 percent, respectively.
ECB President Mario Draghi said the euro zone still needs "significant monetary policy stimulus," despite announcing last month the winding down of its quantitative easing (QE) program. In June, the central bank outlined plans to end its massive bond-buying program in December and hinted that interest rates are likely to remain at current ultra-low levels until, at least, the summer of 2019.
Elsewhere, concerns surrounding trade have alleviated somewhat in the last 24 hours. On Wednesday, President Donald Trump announced that the U.S. and the European Union had initiated a "new phase" within their relationship, explaining how both regions would start collaborating in order to lower tariffs and avoid a potential trade war.