Traders work at the New York Stock Exchange on December 17, 2024.
New York Stock Exchange
U.S. Treasury yields rose on Thursday morning as investors digested new data on weekly jobless claims.
The 10-year Treasury yield rose 5 basis points to 4.633%. The 2-year note rose 2 basis points to 4.359%.
1 basis point equals 0.01%. Yield is inversely proportional to price.
Number of people applying for unemployment benefits The Labor Department reported Thursday that the total number was 219,000 for the week ended December 21. The number was just 1,000 fewer than the previous period and below the Dow Jones consensus forecast of 225,000.
However, continuing claims, which lagged a week behind, rose to 1.91 million, an increase of 46,000 and the highest level since November 13, 2021.
The benchmark 10-year interest rate has climbed more than 40 basis points this month. Much of the gains came after the Fed lowered its rate cut expectations, which pointed to just two more rate cuts in 2025, down from the four expected in September.
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