Treasury yields fall after a cautious Fed message

US Treasury bond yields fell Thursday morning after Federal Reserve Chairman Jerome Powell delivered a cautious message on monetary policy at the previous session.

The benchmark ten-year government bond yield fell nearly 4 basis points to 1.317% at 3:50 a.m. ET. The yield on the 30-year government bond fell by almost 5 basis points to 1.94%. The returns move inversely to the prices.

In a testimony on Wednesday, Powell told the House of Representatives Financial Services Committee that the US economy is “a way away” from what the Fed needs to tighten its loose monetary policy.

Powell will address the Senate Banking, Housing, and Urban Development Committee on Thursday at 9:30 a.m. ET.

CNBC Pro Stock Pick and Investment Trends:

The number of weekly jobless claims filed last week will be released on Thursday at 8:30 a.m. ET. Economists polled by Dow Jones expect 360,000 initial jobless claims, compared to 373,000 in the week ending July 3.

Auctions for $ 40 billion on 4-week notes and $ 35 billion on 8-week notes are scheduled to take place on Thursday.

– CNBC’s Maggie Fitzgerald contributed to this market report.

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