Treasury yields edged lower Thursday, after a brief spike in the previous session, as investors focused on stronger-than-expected December retail sales and the latest remarks from Federal Reserve members.
The yield on the 10-year Treasury note fell by 1 basis point to 4.09%, after trading as high as 4.12% Wednesday, the highest level since Dec. 13. The 2-year Treasury yield fell by 3 basis points to trade at 4.329%.
Yields and prices move in opposite directions. One basis point equals 0.01%.
On Wednesday, December’s retail sales data indicated strong consumer demand at the holidays. Retail sales increased 0.6% for the month, above economists’ estimates of 0.4%, as compiled by Dow Jones. Excluding autos, sales rose 0.4%, which also topped a 0.2% estimate.
Earlier in the week, yields jumped after comments from Federal Reserve Governor Christopher Waller, who suggested that while the central bank will likely cut rates this year, it may take its time to do so.
On the economic front, weekly jobless claims are due Thursday morning, as are housing starts and building permits data. Atlanta Fed President Raphael Bostic is also set to speak.
Don’t miss these stories from CNBC PRO:
— CNBC’s Sarah Min contributed to this report.
