U.S. Treasury yields fell Thursday as investors digested the latest Federal Reserve meeting minutes and considered the outlook for the central bank's interest rate policy.
At 1:47 p.m. ET, the yield on the 10-year Treasury was down 4 basis points at 3.881%. The 2-year Treasury was down less than 1 basis point at 4.691%.
Yields and prices have an inverted relationship. One basis point equals 0.01%.
Treasurys
Minutes from the Fed's last meeting on Jan. 31 and Feb. 1 published on Wednesday showed that while there were signs of inflation easing, central bank officials were still concerned about rising prices. They also noted that further interest rate hikes are likely.
The Fed increased interest rates by 25 basis points at its last meeting, marking the eighth consecutive rate hike. Many investors are hoping for the central bank to pause rate hikes this year as fears that the elevated rates would lead to an economic contraction have spread.
Also on Wednesday, St. Louis Fed President James Bullard advocated for further rate increases on CNBC's "Squawk Box".
On the data front, jobless claims fell to 192,000 for the week ended Feb. 18, the Labor Department reported Thursday. That's also slightly below a Dow Jones forecast of 197,000.