Treasury yields saw a slight increase early Friday after the release of mixed weekly jobless claims data.
The yield on the 10-year Treasury rose by 3 basis points to 4.607%, marking a slight retreat from its earlier peak in the week but maintaining a level above 4.6% that had not been seen since May. The 2-year Treasury yield also edged higher, reaching 4.334%.
The latest data on jobless claims showed a decrease of 1,000 claims for the week ending December 21, bringing the total to 219,000, which was below the expected 225,000. However, continuing claims for the week ending December 14 increased by 46,000, reaching the highest level since November 2021.
The 10-year Treasury yield has risen more than 40 basis points in December, driven by expectations of a more hawkish Federal Reserve in 2025. The central bank’s next meeting is scheduled for the end of January, where a decision to hold rates is anticipated.
CNBC contributed to this report.
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