The 10-year U.S. Treasury yield fell to 1.28%, its lowest point since February, ahead of the release of weekly jobless claims data.
The U.S. Labor Department is due to release the number of weekly jobless claims for the week ended July 3 at 8:30 a.m. ET. Economists expect to see 350,000 first-time applicants for unemployment benefits for the week ended July 3, according to Dow Jones.
This comes after the Federal Reserve on Wednesday released the minutes from its latest meeting on June 15-16.
Some members indicated that the economic recovery was proceeding faster than expected and was being accompanied by an outsized rise in inflation, both making the case for taking the Fed’s foot off the policy pedal.
However, the prevailing mindset was that there should be no rush and markets must be well prepared for any shifts.
Auctions will be held on Thursday for $40 billion of 4-week bills and $40 billion of 8-week bills.
— CNBC’s Jeff Cox contributed to this market report.