Treasury yields edge lower as investors digest Fed minutes

  • On the data front Thursday, weekly jobless numbers and a producer price index are expected at 08:30 a.m. ET.
  • Also on Thursday, the IMF Spring Meeting kicks off in Washington, D.C., which is attended by central bank governors, finance ministers and government officials.
  • The U.S. Treasury will auction $50 billion in four-week bills, $35 billion in eight-week bills and $16 billion in 30-year bonds.

U.S. government debt yields were slightly lower on Thursday morning, continuing a downward move after the European Central Bank (ECB) held interest rates steady and the Federal Reserve released the minutes of its latest meeting.

Symbol
Yield
 
Change
%Change
US 3-MO
---
US 1-YR
---
US 2-YR
---
US 5-YR
---
US 10-YR
---
US 30-YR
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At around 4:30 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 2.4773 percent, while the yield on the 30-year Treasury bond was also lower at 2.8985 percent.

The Fed released the minutes of its March monetary policy meeting on Wednesday, revealing that Fed officials are leaving room for possible interest rate increases by the end of the year but adding that they currently do not expect to make any changes.

Speaking at a press conference in Frankfurt, Germany on Wednesday, ECB President Mario Draghi warned that data gathered by policymakers in recent weeks had confirmed "slower growth momentum" in the euro zone. The German 10-year government bond yield, an important benchmark for European fixed-income assets and one that is viewed as a safe haven for investors, dipped into negative territory on the back of Draghi's comments.

On the data front Thursday, weekly jobless numbers and a producer price index are expected at 08:30 a.m. ET.

Also on Thursday, the IMF Spring Meeting kicks off in Washington, D.C., which is attended by central bank governors, finance ministers and government officials.

The U.S. Treasury will auction $50 billion in four-week bills, $35 billion in eight-week bills and $16 billion in 30-year bonds.