Treasury yields inch higher as traders continue to bet on a December rate cut

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U.S. Treasury yields moved higher on Thursday as investors awaited more economic data and maintained expectations of an interest rate cut at the Federal Reserve’s meeting next week.

At 5:33 a.m. ET, the 10-year Treasury yield rose over 2 basis points to 4.082%, while the 30-year Treasury yield was up 1 basis point to 4.74%. The 2-year Treasury yield was up 1 basis point to 3.504%.

One basis point is equal to 0.01% and yields and prices move in opposite directions.

Investors are still digesting a surprising decline in the private payrolls report from Wednesday, which showed that private companies cut 32,000 workers. Economists polled by Dow Jones had expected a growth of 40,000 in November.

Treasury yields inch higher as traders continue to bet on a December rate cut

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