On Friday, U.S. Treasury bond yields saw a slight decline as investors closely analyzed the latest economic data in search of signals indicating a potential slowdown in the economy. The 10-year Treasury yield dropped by 2 basis points to 4.2302%, while the 2-year Treasury note yield decreased by over 1 basis point to 4.7130%.
Yields and prices have an inverse relationship in the bond market, with a basis point being equivalent to 0.01%. Initial jobless claims data showed a slight increase compared to the previous week, and housing starts also fell more than anticipated in the last month.
The number of Americans filing new claims for unemployment benefits decreased by 5,000 to 238,000 for the week ending on June 15. Economists surveyed by Reuters had predicted 235,000 claims for that period. Housing starts, which are important for real estate investors, declined by 5.5% to a seasonally adjusted annual rate of 1.277 million units in May, according to a report from the Commerce Department’s Census Bureau. An unexpected decrease in the Philadelphia Fed Manufacturing Index added to the recent indications of a slowdown in the economy.
Traders are anticipating the release of manufacturing and services Purchasing Managers’ Index readings for June and existing home sales data for May on Friday
