U.S. Treasury yields ebbed on Thursday morning, as investors focused on economic data releases and fears over a potential slowdown in growth.
The yield on the benchmark 10-year Treasury note fell 1 basis point to 2.8032% at 3:20 a.m. ET. The yield on the 30-year Treasury bond moved less than a basis point lower to 2.8997%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
Treasurys
Investors remain worried about developments in the Russia-Ukraine war, the surge in Covid-19 cases in China, as well as the effect of the Federal Reserve’s attempt to combat inflation by raising interest rates.
Russia’s President Vladimir Putin warned the West of a “lightning fast” response to any country intervening in the Ukraine war.
Regarding economic data releases, gross domestic product growth for the first quarter is due to be reported at 8:30 a.m. ET on Thursday.
The number of jobless claims filed during the week ended April 23 is also due out at 8:30 a.m. ET.
Auctions are scheduled to be held on Thursday for $35 billion of 4-week bills, $30 billion of 8-week bills and $44 billion of 7-year notes.
— CNBC.com staff contributed to this market report.