The yield on 10-year notes hit its lowest level since late April at 2.772%, then fell 7 basis points to 2.815%. Yields on 30-year notes also eased, hitting a one-week low at 2.975% and then trading down 5 basis points to 3.019%.
Thursday’s data showed another series of weak economic figures. Initial applications for unemployment benefits unexpectedly increased last week, reaching a four-month maximum of 218,000 in the week ending May 14, the highest level since January.
However, the same report showed that the labor market remains tightwith job applications continuing at their lowest level since late 1969.
At the same time, a separate report from the Philadelphia Fed showed its business conditions index slipped to a reading of 2.6 in May from 17.6 in April.
Sales of existing homes in the United States also fell to their lowest level in almost two years in April, while house prices rose to a record amid a persistent lack of inventory.
Two-year US debt yields fell 5.5 basis points to 2.603%.
Source: Ambito
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