US Treasury bond yields fell Thursday morning despite strong weekly jobless claims and booming monthly retail sales.
The yield on the 10-year benchmark Treasury note fell 3 basis points to 1.606% around 8:30 a.m. CET. The yield on the 30-year government bond fell by around 5 basis points to 2.273%. The returns move inversely to the prices.
Retail sales skyrocketed in March when stimulus checks hit the bank accounts of millions of Americans. Retail sales rose 9.8% for the month, the trading division reported Thursday. This compares to the Dow Jones estimate of a 6.1% gain and a 2.7% decline in February.
A separate report showed that initial applications for unemployment insurance were falling. The Department of Labor reported 576,000 new jobless claims for the week ending April 10. Economists polled by Dow Jones expected the government to add an additional 710,000 applications to be reported for the first time during the period that the week ended on April 10.
The April Housing Market Index from the National Association of Home Builders is expected to be released at 10 a.m. ET.
Auctions for $ 40 billion worth of 4-week bills and $ 40 billion worth of 8-week bills are scheduled to take place on Thursday.