Home US Treasury yields edge lower as investors await economic data, auctions

Treasury yields edge lower as investors await economic data, auctions

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At around 3:10 a.m. ET, the yield on the benchmark 10-year Treasury note was lower at 0.6512% and the yield on the 30-year Treasury bond was down at 1.3859%. Yields move inversely to prices.

Market focus is largely attuned to worries over the rising number of coronavirus cases, as global Covid-19 infections surpassed 12 million on Wednesday, with over half a million related deaths.

The global health crisis has prompted many central banks around the world to unload massive emergency stimulus measures in an effort to stimulate an economic recovery.

Stimulus tends to boost gold prices, with the precious metal breaking through the technical $1,800 per ounce threshold in the previous session.

On the data front, the latest weekly jobless claims figures will be released at 8:30 a.m. ET, with wholesale trade data for May set to follow slightly later in the session.

The U.S. Treasury will auction $40 billion of 4-week bills, $40 billion of 8-week bills and $19 billion of 29-year and 10-month bonds on Thursday.

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