Treasury Yields Rise After Jobless Claims, Poor Auction Demand
- 30-year bond sale disappoints after investors shunned 10-year
- Two-year yields increased by eight basis points on Thursday
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Treasuries held losses as data on the US labor market alleviated some anxiety about the economy, pushing traders to pull back further on their expectations for aggressive interest-rate cuts this year.
The selloff sent Treasury yields higher across all tenors. A rise in long-term yields gained momentum after demand for the sale of $25 billion in 30-year bonds proved paltry, which followed poor interest on Wednesday for an auction of 10-year notes. Rates on two-year notes, which are sensitive to the Federal Reserve’s policy, were up about 8 basis points to 4.04%.