U.S. Treasury yields were mixed on Thursday as a report on wholesale prices confirmed inflation was slowing.
The yield on the 10-year Treasury lost 4.7 basis points at 3.392%. The 2-year Treasury traded was less than 1 basis point higher at 3.908.
Yields and prices move in opposite directions and one basis point equals 0.01%.
Treasurys
April producer prices increased by 0.2%, below the consensus estimate of 0.3% from economists polled by Dow Jones.
The report follows April's CPI reading, which came in slightly lighter than expected on Wednesday. Consumer prices rose 4.9% from a year ago, just below the 5% estimate.
Weekly jobless claims on Thursday increased by 22,000 to 264,000, pointing to a slowing economy and helping to give a lift to bond prices.
The latest economic data is likely to affect the Fed's next policy moves and comes at a time when many investors are concerned about elevated interest rates dragging the U.S. economy into a recession.
The central bank indicated at its most recent rate-setting meeting last week, where it also hiked interest rates by 25 basis points, that it may halt its rate-hiking campaign soon. But New York Fed President John Williams suggested Tuesday that further rate increase are not off the table.