WASHINGTON (dpa-AFX) - After showing a lack of direction throughout much of the morning, treasuries came under pressure in afternoon trading on Thursday.
Bond prices climbed off their worst levels late in the session but remained firmly in negative territory. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, rose 2.9 basis points to 4.323 percent.
Treasuries showed a notable move to the downside in afternoon trading in reaction to a spike by the price of crude oil,
U.S. crude oil futures have given back ground after surging by almost 6 percent but remain up by more than 3 percent on the day.
Crude oil prices soared after a report from Israel's N12 claimed Iran's parliament speaker Mohammad Bagher Ghalibaf has resigned from the country's negotiating team due to interference from the Revolutionary Guard.
Concerns about a re-escalation of the U.S.-Iran war also continued to weigh in treasuries after President Donald Trump said he has ordered the Navy to 'shoot and kill any boat' that is putting mines in the waters of the Strait of Hormuz.
Trump also said Iran is 'having a very hard time figuring out who their leader is,' pointing to infighting between 'hardliners' and 'moderates.'
The president's latest remarks have added to uncertainty about the potential for a second round of U.S.-Iran peace talks, with Trump denying that is 'anxious' to end war
'A Deal will only be made when it's appropriate and good for the United States of America, our Allies and, in fact, the rest of the World,' Trump said in a post on Truth Social.
In U.S. economic news, the Labor Department released a report showing first-time claims for U.S. unemployment benefits rose by slightly more than expected in the week ended April 18th.
The report said initial jobless claims climbed to 214,000, an increase of 6,000 from the previous week's revised level of 208,000.
Economists had expected jobless claims to rise to 212,000 from the 207,000 originally reported for the previous week.
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