10-year Treasury yield inches higher as investors await economic data, Fed speeches

Treasury yields rose on Thursday as investors monitored a fresh batch of economic data and a flurry of speeches from Federal Reserve policymakers.

The 10-year Treasury yield traded nearly 2 basis points higher at 4.469%, while the yield on the 2-year Treasury rose around 2 basis points to 4.301%.

Yields and prices move in opposite directions. One basis point equals 0.01%.

It comes as investors await the release of the latest weekly initial jobless claims and the producer price index for October.

The PPI figure, which measures what producers get for goods and services, is expected to show a 0.2% increase from the month prior, according to a Dow Jones consensus estimate.

Federal Reserve Chair Jerome Powell is scheduled to discuss the U.S. economic outlook in Dallas, Texas on Thursday.

Fed Governor Adriana Kugler, Richmond Fed President Tom Barkin and New York Fed President John Williams are also expected to deliver remarks later in the day.

The speeches come as investors and economists scrutinize what President-elect Donald Trump’s return to the White House could mean for U.S. interest rates.

The U.S. central bank delivered its second consecutive interest rate cut earlier in the month, in line with expectations, and traders see a decent chance of another trim in December.

— CNBC’s Sarah Min contributed to this report.