NEW YORK (CNNMoney.com) -- Longer-dated Treasury prices turned lower Thursday, with the 30-year yield spiking to a one-month high, as investors took in a better-than-expected report on jobless claims and prepared an auction of government debt later in the day.
What prices are doing: The benchmark 10-year note was flat at 104-11/32, with a 2.99% yield. Meanwhile, the 30-year bond sank 4/32 to 105-6/32 and its yield rose to 4.07%. Earlier in the day, it spiked to 4.13%, the highest since June 25.
Bond prices and yields move in opposite directions.
The 2-year note rose 1/32 to 100-3/32 and yielded 0.59%, while the 5-year note edged up 9/32 to 100-12/32 with a yield of 1.68%.
What's moving the market: Demand for the safety of government debt eased as a modest drop in jobless claims and strong corporate results renewed some optimism among investors, who pushed stocks higher.
A weekly government report showed that initial claims fell by 11,000 in the latest week to 464,000.
Treasury prices also dropped as traders braced for a $29 billion auction of 7-year notes, which will conclude the week's $104 billion debt offering.
Overnight Avg Rate | Latest | Change | Last Week |
---|---|---|---|
30 yr fixed | 3.80% | 3.88% | |
15 yr fixed | 3.20% | 3.23% | |
5/1 ARM | 3.84% | 3.88% | |
30 yr refi | 3.82% | 3.93% | |
15 yr refi | 3.20% | 3.23% |
Today's featured rates:
Index | Last | Change | % Change |
---|---|---|---|
Dow | 32,627.97 | -234.33 | -0.71% |
Nasdaq | 13,215.24 | 99.07 | 0.76% |
S&P 500 | 3,913.10 | -2.36 | -0.06% |
Treasuries | 1.73 | 0.00 | 0.12% |
Company | Price | Change | % Change |
---|---|---|---|
Ford Motor Co | 8.29 | 0.05 | 0.61% |
Advanced Micro Devic... | 54.59 | 0.70 | 1.30% |
Cisco Systems Inc | 47.49 | -2.44 | -4.89% |
General Electric Co | 13.00 | -0.16 | -1.22% |
Kraft Heinz Co | 27.84 | -2.20 | -7.32% |
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