TheĀ 10-year U.S. Treasury yield rose Thursday as investors assessed the path of future rate cuts from theĀ Federal Reserve.
The yield on the benchmark 10-year Treasury note was higher by 1 basis point to 3.89%. Earlier in the session, it fell to 3.836%, or its lowest level since July 24 when the 10-yr yielded as low as 3.792%
The yield on the 30-year Treasury bond gained nearly 3 basis points to 4.032%, while theĀ 2-year yield was lower by more than 1 basis points 4.352%. Yields move inversely to prices.
Treasurys
The third estimate of real gross domestic product came in lower than expected. Real GDP rose 4.9% on an annual basis in the third quarter, according to the Bureau of Economic Analysis. That's down from the second estimate's increase of 5.2%, and lower than the rise of 5.1% anticipated by economists polled by Dow Jones.
Initial jobless claims were little changed week over week and below Wall Street expectations, as the U.S. labor market continues to show strength. There were 205,000 initial unemployment claims last week, up 2,000 from the previous period, according to the Department of Labor. Economists surveyed by Dow Jones were expecting 215,000 claims.
A rally in government debt has driven yields past many targets this year, as bigger-than-expected falls in inflation have increased bets for interest rate cuts.
10-year U.S. Treasury yields have declined by almost a percentage point since the end of October on rising expectations that the Fed will begin cutting rates as soon as March.
ā CNBC's Gina Francolla and Jesse Pound contributed to this report.