Treasury, Tariff
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Labor data provided some support for Treasury yields. The figures could reinforce the case for a longer hold by the Federal Reserve.
The US budget legislation is expected to worsen the country's fiscal outlook without boosting economic growth.
U.S. Treasury yields were lower on Thursday amid renewed concerns that President Donald Trump is considering replacing Fed Chairman Jerome Powell.
Treasury yields closed lower on Wednesday after a $39 billion auction of 10-year notes produced solid demand from direct bidders, upending some expectations that the appetite for U.S. government debt would start to waver.
U.S. Treasury yields rose Tuesday after U.S. President Donald Trump said that a ceasefire was in effect, soon after Iranian state-linked media announced Tehran had fired its "last round" of missiles at Israel. "THE CEASEFIRE IS NOW IN EFFECT. PLEASE DO NOT VIOLATE IT!" Trump said in a post on Truth Social around 1:00 a.m. ET.