Treasury yields rose on Thursday as traders assessed the U.S. reaching a trade deal with the United Kingdom along with the Federal Reserve's latest policy decision.
The yield was more than 3 basis points higher at 4.304%. The yield also gained 3 basis points to trade at 3.822%.
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WATCH HEREOne basis point is equal to 0.01% and yields and prices move in opposite directions.
Data released Thursday reflected a drop in jobless claims for the week ending May 3. Initial filings for unemployment insurance came out at 228,000 for the week, lower than the prior period and below the Dow Jones consensus estimate.
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SIGN UP President Donald Trump announced early Thursday he will sign a with the U.K., the first deal announcement from the White House since Trump implemented a sweeping tariff policy in early April.
"The agreement with the United Kingdom is a full and comprehensive one that will cement the relationship between the United States and the United Kingdom for many years to come," President Donald Trump said in a Truth Social post. Trump had teased the announcement in previous posts.
"Given that full trade deals take years to negotiate, this will likely be a framework and it will be interesting to see whether the 10% baseline tariff stays as that will provide an important template for negotiations with other countries and a good guide to the long-term tariff strategy of the US," Deutsche Bank analysts said in a note.
Money Report
Investors are also digesting the on Wednesday, with the central bank holding the benchmark overnight borrowing rate in a range of 4.25% to 4.5%, where it has been since December. It was a widely expected move.
Fed Chairman Jerome Powell noted in a post-meeting news conference that President Donald Trump's tariffs will delay the central bank's timeline for achieving its goals.
"What looks likely — given the scope and scale of the tariffs — is that we will see certainly the risks to higher inflation, higher unemployment have increased. And if that's what we do see — if the tariffs are ultimately put in place at those levels, which we don't know — then we won't see further progress toward our goals," he said. "We might see a delay in that."
