Treasury yields dip as investors eye omicron developments and data

  • The Labor Department is due to release the number of jobless claims filed during the week ended Dec. 4 at 8:30 a.m. ET on Thursday.
  • Economists are expecting the number of first-time-filers to come in at 211,000, according to estimates from Dow Jones.

U.S. Treasury yields dipped on Thursday morning, as investors continued to keep an eye on the latest news around the omicron variant, as well as economic data.

The yield on the benchmark 10-year Treasury note fell less than a basis point to 1.5024% at 5 a.m. ET. The yield on the 30-year Treasury bond moved less than a basis point lower to 1.8722%. Yields move inversely to prices and 1 basis point is equal to 0.01%.

Treasurys

Tedros Adhanom Ghebreyesus, the director-general of the World Health Organization, said on Wednesday that the omicron Covid variant could change the course of the pandemic.

Meanwhile, Pfizer CEO Albert Bourla said on Wednesday that people might need a fourth Covid-19 shot sooner than expected because of the omicron variant. However, results of an initial lab study released earlier that day, showed that a third shot was effective at fighting the omicron variant.

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On the economic data front, the Labor Department is due to release the number of jobless claims filed during the week ended Dec. 4 at 8:30 a.m. ET on Thursday. Economists are expecting the number of first-time-filers to come in at 211,000, according to estimates from Dow Jones.

Auctions are scheduled to be held on Thursday for $10 billion of four-week bills, $25 billion of eight-week bills and $22 billion of 30-year bonds.

CNBC's Pippa Stevens and Annika Kim Constantino contributed to this market report.

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