US yields pare fall after jobless claims, Philly Fed data

NEW YORK: US Treasury yields reduced their earlier decline on Thursday following a steeper-than-expected drop in jobless claims last week and stronger-than-forecast data on US Mid-Atlantic business activity from Philadelphia Federal Reserve in March.

At 8:43 a.m. (1243 GMT), the yield on benchmark 10-year Treasury notes was 2.516 percent, down from 2.3 basis points from late on Wednesday. Earlier Thursday, it hit 2.500 percent, the lowest level since January 2018.