On Thursday, the benchmark 10-year Treasury note yield fell by 2 basis points to 4.645%, while the 30-year bond yield also dropped by 2 basis points to 5.161%. The 2-year Treasury note yield decreased by 1 basis point to 4.211%.
These movements come as investors await initial jobless claims data, which is expected to provide further insight into the U.S. economy following a recent inflation measure that was slightly above expectations. This inflation data has influenced market expectations, with a 36% probability of a Federal Reserve rate hike in September, according to CME Group's FedWatch tool.
The Jackson Hole symposium, where Chair Warsh will speak on Friday, is highly anticipated as investors seek clarity on his economic outlook, inflation concerns, and monetary policy direction. The lack of forward guidance from the Fed could lead to market volatility, particularly if Warsh addresses rising long-term borrowing costs or the Treasury's plans to increase government debt buybacks