WASHINGTON (dpa-AFX) - After showing a strong move to the upside in the previous session, treasuries gave back ground during trading on Thursday.
Bond prices came under pressure early in the session and remained firmly negative throughout the day. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 4.7 basis points at 4.112 percent.
The pullback by treasuries may have reflected uncertainty whether key U.S. economic will be released following the end of the longest government shutdown in U.S. history.
While President Donald Trump has signed a short-term funding bill, White House press secretary Karoline Leavitt told reporters on Wednesday that the October jobs and consumer price inflation reports are 'likely never being released' as a result of the shutdown.
As a result, traders and the Federal Reserve may continue to be left 'flying blind' with regard to the strength of the U.S. economy.
Potentially due to the concerns about a continued lack of data, CME Group's FedWatch Tool indicates the chances of another quarter point rate cut at the next Fed meeting have slumped to 51.6 percent from 62.9 percent a day ago.
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