WASHINGTON (dpa-AFX) - After ending the previous session firmly negative following some some-late volatility, treasuries showed a strong move back to the upside during trading on Thursday.
Bond prices advanced early in the session and continued to turn in a strong performance throughout the day. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, slid 5.6 basis points to 4.989 percent.
The rebound by treasuries may have reflected their appeal as a safe haven as concerns about artificial trade once again resurfaced on Wall Street.
Technology stocks have moved sharply lower on the day after Google parent Alphabet (GOOGL) reported weaker-than-expected third quarter revenue as well as negative free cash flow.
'Alphabet's accelerated cash burn might have been overlooked if the rest of its update had reassured investors that the money being spent is delivering, but shares in the company slid 13%, dragging down many of its tech heavy peers,' said Danni Hewson, head of financial analysis at AJ Bell.
Treasuries may also have benefited from a pullback by the price of crude oil, which has given back some ground after spiking in the previous session.
Crude oil futures moved lower after a Wall Street Journal report said that Vice President JD Vance sent a letter to the Secretary of Iran's Supreme National Council Mohsen Rezaei urging Iran to swiftly revive peace negotiations and accelerate measures to defuse the situation.
On the U.S. economic front, a closely watched report released by the Commerce Department showed consumer prices in the U.S. increased in line with economist estimates in the month of September.
The Commerce Department said its personal consumption expenditures (PCE) price index climbed by 0.5 percent in September after rising by 0.3 in August. The increase matched expectations.
The report also said the annual rate of growth by the PCE price index accelerated to 3.6 percent in September from 3.4 percent in August, while was also in line with estimates.
Excluding food and energy prices, the core PCE price index rose by 0.3 percent in September, matching an upwardly revised increase in August as well as expectations.
The annual rate of growth by the core PCE price index ticked up to 3.1 percent in September from 3.0 percent in August. The uptick also came in line with economist estimates.
Meanwhile, a separate Commerce Department report showed economic growth in the U.S. exceeded economist estimates in the third quarter of 2026.
The Commerce Department said real gross domestic product shot up by 3.4 percent in the third quarter after jumping by 2.2 percent in the second quarter. Economists had expected GDP to surge by 3.1 percent.
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