U.S. Treasury yields fell on Thursday as investors awaited further important data on the U.S. jobs situation, while energy costs fell on renewed hopes for a Middle East ceasefire.
The yield on the 10-year Treasury note, a key benchmark for mortgages, auto loans and credit card debt, fell more than 2 basis points to 4.463%. The yield on the two-year Treasury note, which typically reacts to the Federal Reserve’s short-term interest rate decisions, fell more than 4 basis points (bp) to trade at 4.043%.
Meanwhile, the 30-year Treasury yield, which traditionally fluctuates in response to geopolitical events, fell more than 1 basis point to 4.971%.
One basis point is equal to 0.01%, or 1/100th of 1%, and yield and price are inversely proportional to each other.
Treasury markets are taking a breather after yields rose on Wednesday as new ADP data showed private payrolls rose by 122,000 in May, the strongest month since January 2025. The report comes ahead of the all-important May nonfarm payrolls report, which will be released at 8:30 a.m. ET on Friday.
Jobless claims rose to 225,000 for the week ending May 30, above the Dow Jones consensus of 215,000.
Elsewhere, investors continue to monitor developments in the Middle East conflict and its impact on the US economy.
Oil prices fell on Thursday morning after Israel and Lebanon agreed to implement a ceasefire. us West Texas Intermediate Futures It fell 3.4% to $92.77 per barrel. brent crude oilCrude oil, the benchmark for global oil prices, fell 3.2% to $94.75.
