The U.S. 10-year Treasury yield dipped Thursday, as investors looked to employment data set for release.
The yield on the benchmark 10-year Treasury note lost 2 basis points to 2.911% as of 7:10 ET. The yield on the 30-year Treasury bond moved 2.3 basis points lower to 3.054%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
Rising prices around the world remain a key concern for investors, with euro zone inflation hitting 8.1% in May, according to data released on Tuesday.
Sentiment was also hit after JPMorgan CEO Jamie Dimon warned that an economic “hurricane” caused by the Federal Reserve and the war in Ukraine is brewing. He said his company is “going to be very conservative with our balance sheet.”
On the data front Wednesday, the number of April job openings declined sharply from the previous month — but the findings suggest the job market remains tight. Further, the Institute for Supply Management said its manufacturing PMI (purchasing managers’ index) came in at 56.1 for May, up from 55.4 the month before.
Looking ahead to Thursday’s data, there will be an ADP employment report at 8:30 a.m. ET, with productivity and unit labor costs data due at the same time. Factory orders data will also be out at 10 a.m. ET.
—CNBC’s Tanaya Macheel and Vicky McKeever contributed to this article.
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