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US bond yields hold steady after Powell comments

U.S. government debt yields held steady Thursday following comments from Federal Reserve Chairman Jerome Powell.

The yield on the benchmark 10-year Treasury note was lower at 3.119 percent, while the yield on the 30-year Treasury bond was slightly higher at 3.372 percent. Bond yields move inversely to prices.

Sentiment across the globe has improved on reports that China has delivered a written response to U.S. trade demands. U.S. government sources told Reuters Wednesday that China had sent a response to U.S. demands on the ongoing trade negotiation, giving hopes to investors that the two sides might bring an end to the spat.

U.S. Markets Overview: Treasurys chart

Sterling plunged by over 1 percent against the Thursday morning after U.K. Brexit Secretary Dominic Raab resigned from his post. This piles yet more pressure on U.K. Prime Minister as she tries to get her draft Brexit agreement through Parliament.