On Wednesday, yields rose despite the Labor Department indicating that wholesale prices barely increased in February after falling for three straight months. Overnight, data showed China's industrial output expanded at its slowest rate in 17 years.
Investors also grappled with ongoing trade negotiations between China and the U.S. CNBC learned through multiple sources that China wants to link a formal state visit to the U.S. to a trade-deal announcement. The sources said Beijing wants a deal to be fully ironed out before Chinese President Xi Jinping sat down with President Donald Trump. They also said, however, Trump prefers to close the deal himself with Xi in person.
Bloomberg News reported earlier in the day that China and the U.S. are trying to push back a meeting between the countries' two leaders from late March to April at the earliest. This comes after Trump said he was in no rush to form an agreement. Bloomberg's report comes after China's industrial output expanded at its slowest rate in 17 years.
Stateside, investors are likely to closely monitor another fresh round of economic data Thursday.
New home sales fell 6.9 percent in January — which was more than expected and a sign the U.S. government shutdown could have kept buyers on the sidelines.
— CNBC's Fred Imbert contributed reporting.