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Treasury yields were largely unchanged on Thursday morning as investors await more key data on the U.S. employment picture, while renewed hopes for a Middle East ceasefire sent energy costs lower.
The yield on the 10-year Treasury note — the main benchmark for mortgages, auto loans and credit card debt — was unchanged at 4.4828% on Thursday morning.
The yield on the 2-year Treasury note, which typically reacts in line with short-term Federal Reserve interest rate decisions, was about 2 basis point lower at 4.0638%.
Meanwhile, the 30-year Treasury yield, which traditionally moves on geopolitical events, was also holding steady at 4.9846%.
One basis point equals 0.01%, or 1/100th of 1%, and yields and prices move inversely to one another.
Treasury markets are taking a breather after yields moved higher on Wednesday as new ADP data showed private payrolls rose by 122,000 in May, the strongest month since January 2025.
Traders are awaiting new weekly jobless claims data from the Department of Labor later this morning, ahead of crucial non-farm payrolls data and unemployment numbers on Friday.
U.S. unemployment benefit claims increased by 5,000 to 215,000 for the third week of May.
Elsewhere, investors continue to monitor developments in the Middle East conflict and their impact on the U.S. economy.
Oil prices dipped on Thursday morning as Israel and Lebanon agreed to implement a ceasefire.
U.S. West Texas Intermediate futures were 1.2% lower at $94.91 per barrel, while Brent crude, the global oil price benchmark, slipped 1.4% to $96.49.
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