WASHINGTON (dpa-AFX) - Following the modest weakness seen in the previous session, treasuries moved back to the upside during trading on Thursday.
Bond prices advanced early in the session and remained firmly positive throughout the day. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, fell 3.1 basis points to 4.017 percent.
The rebound by treasuries may have reflected lingering uncertainty about U.S. trade policy after the Supreme Court's decision to strike down most of President Donald Trump's sweeping global tariffs
It remains unclear what will happen to nearly 20 framework deals or firmer trade agreements that the Trump administration has reached with countries in recent months.
Traders were also looking ahead to the release of the Labor Department's report on producer price inflation in the month of January.
Economists currently expect producer prices to rise by 0.3 percent in January after climbing by 0.5 percent in December, while the annual rate of growth is expected to slow to 2.8 percent from 3.0 percent.
While not as closely watched as consumer price inflation data, the producer price inflation report could impact the outlook for interest rates.
Traders were also keeping an eye on the third round of nuclear negotiations between the United States and Iran in Geneva.
Oman's Foreign Minister Badr Albusaidi said in a post on X that 'significant progress' was made during the talks.
Albusaidi said negotiations between the two countries will 'resume soon after consultation in the respective capitals' and revealed 'discussions on a technical level will take place next week in Vienna.'
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