Vivien Lou Chen is a Markets Reporter for MarketWatch. You can follow her on Twitter @vivienlouchen.
Long-dated Treasury yields remained higher on Thursday, with the 10- and 30-year rates on their way to more 16-year highs, as traders assessed prepared remarks from Federal Reserve Chair Jerome Powell.
Data released on Thursday showed that initial jobless claims fell to a nine-month low of 198,000 last week, defying expectations for rising layoffs amid higher U.S. interest rates. New jobless claims declined from a revised 211,000 in the prior week. Meanwhile, the Philadelphia Fed’s manufacturing gauge remained in contractionary territory for the second straight month in October.
Meanwhile, there are concerns that some important buyers of Washington’s debt are pulling back. Chinese investors sold U.S. assets at the fastest pace in four years in August, according to official Treasury Department data released Wednesday evening.
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