U.S. government debt yields ticked higher on Thursday on hopes for trade talks between the U.S. and China and after the government said the number of Americans filing for unemployment benefits fell for a second straight week.
Initial claims for state unemployment benefits slipped by 2,000 to a seasonally adjusted 212,000 for the week ended Aug. 11, according to the U.S. Labor Department. The claims print is under scrutiny by Wall Street for signs that President Donald Trump's protectionist trade policies — and the resultant tit-for-tat trade war with China — could be a catalyst for more frequent layoffs.
The yield on the benchmark 10-year Treasury note was higher at around 2.87 percent at 4:56 p.m. ET, while the yield on the 30-year Treasury bond was higher at 3.027 percent. Bond yields move inversely to prices.