US Treasury yields edged down on Thursday, but the 10-year rate remained above the 1.5% mark as investors remained focused on jobs data.
The benchmark 10-year Treasury bill yield fell less than a basis point to 1.516% at 3:45 am ET. The yield on the 30-year Treasury bill fell less than a basis point, falling to 2.069%. Yields move in the opposite direction of prices and 1 basis point equals 0.01%.
ADP’s monthly employment development report, released on Wednesday, showed private jobs increased by 568,000 in September. This was well above the expected reading of 425,000 new jobs and up from the August print of 374,000.
Investors’ attention will now turn to Friday’s nonfarm wage report, due at 8:30 a.m. ET on Friday. The data is being monitored by the Federal Reserve, which is considering when to withdraw its emergency pandemic stimulus measures, although the central bank has said it will seek to end its program to buy oil soon. obligations.
Weekly jobless claims data is expected to be released at 8:30 a.m. ET on Thursday.
August’s consumer credit data is expected to be released at 3 p.m. ET.
Auctions are scheduled to take place Thursday for $ 10 billion in four-week bills and $ 25 billion in eight-week bills.
Senate Minority Leader Mitch McConnell on Wednesday proposed a short-term suspension of the U.S. debt ceiling to avoid a national default and an economic crisis, which economists say could be disastrous. On Tuesday, Treasury Secretary Janet Yellen warned that the United States should “fully expect” of a recession if that happens.
– CNBC’s Tanaya Macheel contributed to this market report.