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.