U.S. Treasury notes declined on Thursday as investors weighed recession risks and assessed the outlook for Federal Reserve policy in the new year.
Yields and prices have an inverted relationship. One basis point is equivalent to 0.01%.On Thursday, investors will be looking to the publication of weekly initial jobless claims data for fresh insights into the labor market.
According to a Dow Jones survey, economists are expecting the figure, which reflects initial jobless claims for the week that ended on Dec. 24, to come in at 223,000. This would be an increase from the previously measured time period. Many investors are looking to economic data releases for clues about the outlook for 2023, as uncertainty over recession prospects and inflation developments have spread. Investors have also been assessing how these factors could affect the Fed's monetary policy decisions, especially regarding interest rates.
Many are hoping that the central bank will slow, or pause, rate increases in the new year after hiking rates to the highest level in 15 years earlier this month.
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