The 10-year U.S. Treasury yield held above 1.64% early on Thursday, ahead of the release of weekly jobless claims data.
climbed less than a basis point to 2.118%. Yields move inversely to prices and 1 basis point is equal to 0.01%.The 10-year rate hit 1.67% earlier this week, as investors eyed strong earnings, which boosted hopes of a continued economic recovery.
The Labor Department is due to release the number of jobless claims filed during the week ended Oct. 16 at 8:30 a.m. ET on Thursday. Last week, the number of weekly unemployment insurance claims fell below 300,000 for the first time since the start of the coronavirus pandemic. Investors will be watching to see if jobless claims continue to fall, particularly given that the Federal Reserve has indicated that it will soon start to normalize its monetary policy, as the central bank nears its economic goals.
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