Treasury yields fell slightly after the massive sell-off

US Treasury yields fell slightly on Thursday, after selling off amid inflation fears.

Return on standard 10-year treasury bonds It gave up less than a basis point, dropping to 1.531% at 3:45 AM ET. return on 30 year treasury bonds It fell less than a basis point to 2.078%. Returns move inversely with prices and one basis point is 0.01%.

The 10-year Treasury yield hit 1.56% on Wednesday, with investors worried about longer-term price hikes and the possibility of monetary policy tightening.

Federal Reserve Chairman Jerome Powell said on Wednesday, Discussion Hosted by the European Central Bank, it predicted higher prices until 2022.

“It’s also disappointing to see the bottlenecks and supply chain problems not improving – in fact the margins seem to be getting a little bit worse,” he said. “We see that this will probably continue until next year and will hold inflation for a longer period than we thought,” he added.

Powell is scheduled to speak before the US House of Representatives Financial Services Committee at 10 a.m. ET.

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Investors are also keeping an eye on the latest headlines out of Washington. Wednesday, home pass a bill That would suspend the US debt ceiling after Treasury Secretary Janet Yellen told House Speaker Nancy Pelosi on Tuesday that Congress has until October 18 to raise or suspend the debt ceiling.

Meanwhile, the number of jobless claims filed during the week ending September 25 is due to be released at 8:30 AM ET. Economists expected 335,000 unemployment insurance claims to be filed last week.

The Bureau of Economic Analysis will also release its final estimates for US second-quarter GDP at 8:30 AM ET.

Auctions are scheduled for Thursday for $10 billion in four-week bonds and $25 billion in eight-week bills.

CNBC’s Jeff Cox and Pippa Stevens contributed to this market report.


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