WASHINGTON (dpa-AFX) - Treasuries showed a notable move to the downside during trading on Thursday, extending the slump seen throughout the week.
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, jumped 4.6 basis points to 4.703 percent.
The ten-year yield closed higher for the fourth consecutive session, reaching its highest closing level since early 2025.
The extended weakness among treasuries came in reaction to a continued surge by the price of crude oil, with brent crude oil futures soaring by more than 6 percent and jumping back above $100 a barrel.
The spike by crude oil prices comes after Yemen's Houthis claimed they had attacked two Saudi oil tankers in the Red Sea for violating their maritime blockade.
President Donald Trump said in a post on Truth Social that the U.S. would hold Iran responsible if the militant group continues the attacks.
The continued surge by the price of crude oil has added to recent concerns about the outlook for inflation and the possibility of higher interest rates.
In U.S. economic news, the Labor Department released a report showing first-time claims for unemployment benefits unexpectedly decreased in the week ended July 18th.
The report said initial jobless claims fell to 187,000, a decrease of 22,000 from the previous week's revised level of 209,000.
Economists had expected jobless claims to rise to 212,000 from the 208,000 originally reported for the previous week.
With the unexpected decrease, jobless claims dropped to their lowest level since hitting 182,000 in the week ended September 6, 1969.
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