Yun Li,Vicky McKeever
Treasury yields fell slightly on Thursday even after economic data pointed to a solid recovery.
U.S. GDP for the third quarter bounced back at a record pace of 33.1%, better than the 32% estimate from economists surveyed by Dow Jones. The rapid growth followed a 31.4% plunge in the second quarter.
Meanwhile, initial weekly U.S. jobless claims came in at 751,000 for the week ending Oct. 24, better than a Dow Jones estimate of 778,000. The total marked its lowest level since March at the depth of the coronavirus pandemic.
Traders are also digesting rising cases of the coronavirus in the U.S. and diminished hopes that a economic stimulus deal will be reached before the presidential election next week.
In addition, $30 billion worth of four-week bills go up for auction today, along with $35 billion of eight-week bills. Another $53 billion in seven-year notes is also up for auction.
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