On Thursday, the yield on the 10-year U.S. Treasury note rose by more than 3 basis points to 4.6014%, while the 30-year Treasury bond yield increased by over 1 basis point to 5.1334%. The 2-year Treasury note yield also saw a rise of more than 3 basis points, reaching 4.0746%.
This uptick in yields follows a significant decline the previous day, which was influenced by fears of rising inflation linked to geopolitical tensions, particularly the Iran war. Oil prices also saw an increase, with U.S. West Texas Intermediate futures climbing to $99.61 per barrel, reflecting ongoing concerns in the energy market.
Investors are awaiting upcoming economic data on U.S. housing starts and building permits, with expectations of a decrease in new housing starts to 1.41 million in April from 1.502 million in March, while building permits are projected to rise to 1.39 million from 1.363 million.
These developments indicate a continued sensitivity to inflation and economic indicators, which could influence Federal Reserve policy and market dynamics