Traders are at work on the New York Stock Exchange on December 17, 2024.
New York Stock Exchange
Treasury yields rose Thursday morning as investors digested new data on weekly unemployment claims.
The yield on 10-year Treasury bonds jumped 5 basis points to 4.633%. Two-year Treasury notes were trading 2 basis points higher at 4.359%.
One basis point equals 0.01%. Returns move inversely with prices.
Total jobless claims for the week ending December 21 are expected to reach 225,000, according to Dow Jones estimates. Total claims for the previous week were 220,000.
The benchmark 10-year interest rate rose more than 40 basis points this month. The bulk of the progress came after the Fed lowered interest rate cut expectations, pointing to only two additional rate cuts in 2025, down from the four possible cuts scheduled through September.