Treasury yields climbed on Friday ahead of the release of July’s flash purchasing managers’ index readings.
The yield on the benchmark 10-year Treasury note added 3 basis points, climbing to 1.288%. The yield on the 30-year Treasury bond gained 2 basis points, rising to 1.927%. Yields move inversely to prices and a basis point is equal to 0.01 percentage points.
Markit’s July PMI data, which should give an indication as to the state of the U.S. economic recovery, is due to come out at 9:45 a.m. ET.
Treasury yields rebounded having fallen in Thursday’s session, after jobless claims data came in higher than expected. The number of first-time unemployment insurance claims filed last week came in at 419,000, versus the 350,000 filings expected by economists.
There are no Treasury auctions scheduled to be held on Friday.