10-year Treasury yield back above 4.6% after mixed jobless claims data-OxBig News Network

Treasury yields were slightly higher early Friday after a mixed set of data on weekly jobless claims.

The yield on the benchmark 10-year Treasury was 3 basis points higher at 4.607%, slightly down from its peak earlier in the week but back above the 4.6% level it had not breached since May. The 2-year Treasury was fractionally higher at 4.334%.

One basis point is equal to 0.01%. Yields move inversely to prices.

After the Christmas break, jobless claims data released Thursday for the week ending Dec. 21 came in 1,000 lower at 219,000, below the 225,000 consensus forecast from Dow Jones.

However, continuing claims rose by 46,000 for the week ending Dec. 14 to the highest level since November 2021.

The 10-year Treasury yield has risen more than 40 basis points in December as traders anticipate a more hawkish Federal Reserve in 2025. The central bank next meets at the end of January, when a rate hold is expected.

Monthly data on wholesale inventories is due Friday.