10-year Treasury yield rises above 4.6% ahead of jobless claims-OxBig News Network

Treasury yields rose Thursday morning as investors awaited new data on jobless claims.

The yield on the 10-year Treasury jumped 4 basis points 4.627%. The 2-year Treasury traded 1 basis point higher at 4.353%.

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

Jobless claims for the week ended Dec.21 are expected to total 225,000, according to an estimate from Dow Jones. Claims for the prior week totaled 220,000.

The benchmark 10-year rate has climbed more than 40 basis points this month. The bulk of the advance came after the Federal Reserve pared down rate-cut projections, indicating only two more interest rate cuts in 2025, down from the four potential cuts penciled in during September.