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Nov 12, 2020

Bonds: Treasury yields fall ahead of jobless claims

 


Vicky McKeever


U.S. Treasury yields fell on Thursday ahead of key economic data due to be released later in the day and a speech by Federal Reserve chair Jerome Powell.

The yield on the benchmark 10-year Treasury note dipped to 0.939% at 5:21 a.m. ET, while the yield on the 30-year Treasury bond fell to 1.706%. Yields move inversely to prices.

Treasurys

TICKER COMPANY YIELD CHANGE %CHANGE
US3MU.S. 3 Month Treasury0.0960.000.00
US1YU.S. 1 Year Treasury0.1240.000.00
US2YU.S. 2 Year Treasury0.181-0.0040.00
US5YU.S. 5 Year Treasury0.428-0.0320.00
US10YU.S. 10 Year Treasury0.939-0.050.00
US30YU.S. 30 Year Treasury1.715-0.0450.00

Treasury yields traded lower after the U.S. bond market was closed on Wednesday for Veteran’s Day.

Fed chair Powell is set to speak at 1:45 p.m. ET. President of Federal Reserve Bank of Chicago, Charles Evans is then set to make a speech at 3 p.m. ET and New York Fed President John Williams is expected to speak at 4 p.m. ET.

The U.S. government monthly budget statement for October is also due out at 4 p.m. ET.

Before that, at 10:30 a.m. ET, year-on-year and month-on-month inflation figures will be released, along with weekly and four-week average jobless claims.

At 1 p.m. ET, weekly inventory data will be released for crude oil, distillate and gasoline.

Auctions will be held on Thursday for $30 billion worth of four-week bills, $35 billion of eight-week bills, $25 billion of 105-day bills and $30 billion of 154-day bills. Another $27 billion in 30-year bonds is also up for auction on Thursday.

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