Treasuries showed a notable move to the downside during trading on Thursday, giving back ground after moving notably higher over the three previous sessions. <\/p>\n
Bond prices came under pressure early in the session and remained firmly negative throughout the day. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, jumped 8.1 basis points to 4.352 percent.<\/p>\n
With the increase on the day, the ten-year yield regained ground after ending Wednesday’s session at its lowest closing level in well over two months.<\/p>\n
The pullback by treasuries came even though the Commerce Department released a report showing consumer price growth in the U.S. slowed in line with economist estimates in the month of October.<\/p>\n
The report said the annual rate of consumer price growth decelerated to 3.0 percent in October from 3.4 percent in September. The slowdown matched expectations.<\/p>\n
Core consumer price growth also slowed in line with estimates, slipping to 3.5 percent in October from 3.7 percent in September. Core consumer prices exclude food and energy prices.<\/p>\n
The inflation readings, which are said to be preferred by the Federal Reserve, were included in the Commerce Department’s report on personal income and spending during the month.<\/p>\n
A separate report released by the Labor Department on Thursday showed a modest increase in first-time claims for U.S. unemployment benefits in the week ended November 25th.<\/p>\n
The Labor Department said initial jobless claims inched up to 218,000, an increase of 7,000 from the previous week’s revised level of 211,000. <\/p>\n
Economists had expected jobless claims to rise to 220,000 from the 209,000 originally reported for the previous week.<\/p>\n
Trading on Friday may be impacted by reaction to remarks by Federal Reserve Chair Jerome Powell as well as a report on U.S. manufacturing activity. <\/p>\n