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Treasury yields ebb lower amid weak jobs data, growth concerns


U.S. Treasury yields ebbed lower on Thursday morning, amid weak employment data and concerns about economic growth due to the spread of the delta variant.

The yield on the benchmark 10-year Treasury note fell by nearly 2 basis points to 1.321% at 4 a.m. ET. The yield on the 30-year Treasury bond dipped by 1 basis point to 1.941%. Yields move inversely to prices and 1 basis point is equal to 0.01%.

The Labor Department’s latest Job Openings and Labor Turnover Survey on Wednesday showed job openings outnumbered the unemployed by more than 2 million in July. The Federal Reserve watches the JOLTS data closely for any signs of slack in employment.

In its latest “Beige Book,” released on Wednesday, the Fed said rising inflation was being exacerbated by a shortage of goods and that this would likely be passed onto consumers in many areas.


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The Fed also said that growth overall had “downshifted slightly to a moderate pace” amid rising public health concerns during the July-through-August period that the report covers.

In terms of data due out on Thursday, the number of jobless claims filed during the week ended Sept. 4, is due to come out at 8:30 a.m. ET. Economists polled by Dow Jones expected 335,000 Americans filed for unemployment last week, compared to the previous week’s 340,000.

Auctions will be held on Thursday for $20 billion of 4-week bills, $30 billion of 8-week bills and $24 billion of 30-year bonds.

CNBC’s Jeff Cox and Maggie Fitzgerald contributed to this market report.

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