- Federal Reserve Governor Christopher Waller on Wednesday said there was "no rush" to cut interest rates, adding that recent economic data indicated that rates may need to stay elevated for longer.
- On Thursday, the latest weekly jobless claims for the week that ended March 16 came in at 210,000, slightly lower than the 211,000 that economists surveyed by Dow Jones had predicted.
- Fresh inflation data is expected to be released Friday in the form of the personal consumption expenditures price index.
The 2-year Treasury yield ticked higher Thursday as investors considered the path ahead for interest rates following comments from a Federal Reserve official and prepared for key inflation data.
The 2-year Treasury yield was last up by 6 basis points at 4.63%. The yield on the 10-year Treasury had risen 1 basis point to 4.21%.
Yields and prices move in opposite directions. One basis point equals 0.01%.
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Investors weighed the outlook for monetary policy and looked ahead to key economic data as uncertainty around when and how often interest rates will be cut this year persists. Traders were last pricing in an around 60% chance of rates being cut in June, CME Group's FedWatch Tool shows.
Federal Reserve Governor Christopher Waller on Wednesday said there was "no rush" to cut interest rates, adding that recent economic data indicated that rates may need to stay elevated for longer.
Waller said the data told him "that it is prudent to hold this rate at its current restrictive stance perhaps for longer than previously thought to help keep inflation on a sustainable trajectory toward 2 percent."
Money Report
On Thursday, the latest weekly jobless claims for the week that ended March 16 came in at 210,000, slightly lower than the 211,000 that economists surveyed by Dow Jones had predicted.
Markets will be closed for Good Friday, when the Bureau of Economic Analysis will release the personal consumption expenditures reading for February. The PCE is the Fed's preferred inflation gauge.
Personal spending and income data is also slated for Friday.
