U.S. Treasury yields dipped on Friday, the last trading session of 2021, but the 10-year held above the 1.5% threshold.
The yield on the benchmark 10-year Treasury note fell to 1.5117% by 1:30 a.m. ET, while the yield on the 30-year Treasury bond edged down to 1.9205%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
Treasurys
Jobless claims last week came in lower than expected, the Labor Department reported Thursday. Initial claims totaled 198,000 for the week ended Dec. 25, while economists surveyed by Dow Jones projected 205,000.
Meanwhile, investors continue to monitor the potential threat of the omicron Covid-19 variant on economic growth.
Covid cases have hit their highest levels of the pandemic in the U.S., according to data compiled by Johns Hopkins University. Nationwide daily new cases were at a record seven-day average of more than 265,000 as of Tuesday.
However, some developments with the omicron Covid variant have steadied investor sentiment. The president’s top medical advisor Dr. Anthony Fauci on Wednesday predicted that the latest wave of the coronavirus pandemic may hit its peak in the U.S. by the end of January.
There will be no new economic data out on Friday.