U.S. Treasury yields climbed on Thursday as investors assessed the state of the economy and looked ahead to fresh data and the Federal Reserve's meeting next week.
At 3:06 p.m. ET, the yield on the 10-year Treasury was 11 basis points higher at 3.856%. The 2-year Treasury was up by more than 8 basis points at 4.839%.
Yields and prices move in opposite directions and one basis point equals 0.01%.
Treasurys
Investors considered what could be on the horizon for the economy and looked to economic data which could inform decisions made by the Fed at its upcoming policy meeting.
June's existing home sales data and weekly initial jobless claims are due Thursday and could provide clues about the state of the U.S. economy. The figures could play a role when the Fed meets next week to discuss the path ahead for monetary policy.
Markets are widely expecting the central bank to announce another interest rate hike then, but the picture for the remainder of the year is less clear. Investors will therefore carefully weigh the guidance issued by the central bank and remarks from Fed Chair Jerome Powell after the meeting.
That comes after last week's U.S. consumer inflation reading came in lower than expected at 3%, suggesting that pressures from rising prices are starting to ease and the Fed's restrictive policy is taking effect. However, the number remains above the central bank's 2% target range.