U.S. Treasury yields were higher on Thursday as investors parsed the latest economic data.
climbed more than 5 basis points to 3.987%. One basis point equals 0.01%, and yields and prices move in opposite directions.came in hotter than forecast. Retail sales showed a rise of 0.4% in September, above the estimate of 0.3% from economists polled by Dow Jones. Excluding autos, sales increased 0.5%, also higher than the consensus expectation of 0.1%.Weekly jobless claims, meanwhile, fell to 241,000, according to separate data released Thursday.
"Real wage growth and underlying demand for goods and services are overshadowing negative sentiment," said David Russell, global head of market strategy at TradeStation."The economy continues to accelerate thanks to the U.S. consumer, and may improve further as lower fuel prices kick in. Today's numbers make a recession look even less likely."
The data comes after several Fed officials earlier this week hinted at further rate cuts to come. Additional comments from policymakers are expected as the week continues.of the year at its meeting on Thursday. The decision comes as policymakers have pointed towards a weaker growth outlook and easing inflation risks.
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