Authorities bond yields fall amid weak employment information, progress worries
US Treasury bond yields slowed Thursday morning amid weak employment data and concerns about economic growth due to the proliferation of the Delta variant.
The benchmark ten-year bond yield fell nearly 2 basis points to 1.321% at 4 a.m. ET. The yield on the 30-year government bond fell 1 basis point to 1.941%. The returns move inversely to the prices and 1 basis point equals 0.01%.
Wednesday’s latest job vacancy and labor turnover survey by the Department of Labor showed that the number of job vacancies in July was more than 2 million higher than the unemployed. The Federal Reserve is closely monitoring the JOLTS data for signs of a lack of employment.
In its latest Beige Book, released Wednesday, the Fed said that rising inflation will be exacerbated by a shortage of goods and that this will likely be passed on to consumers in many areas.
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The Fed also said overall growth “has declined slightly to a moderate pace” as public health concerns mount during the July-August period covered by the report.
In relation to the data to be released Thursday, the number of jobless claims filed in the week ending September 4 will be released at 8:30 a.m. ET. Economists polled by Dow Jones expected 335,000 Americans to register as unemployed last week, compared with 340,000 the previous week.
Auctions will be held Thursday for $ 20 billion 4-week bills, $ 30 billion 8-week bills, and $ 24 billion 30-year bonds.
– CNBC’s Jeff Cox and Maggie Fitzgerald contributed to this market report.