U.S. government debt prices ticked lower Thursday morning as investors monitored U.S.-China trade developments and looked ahead to fresh economic data.
U.S. Markets Overview: Treasurys chart
Market focus is largely attuned to global recession worries, with investors closely monitoring developments in U.S.-China trade talks and looking for direction on interest rates from central banks.
On Wednesday, the rate on the benchmark 30-year Treasury bond sank to an all-time low, while the U.S. yield curve inverted even further. The move extended losses from earlier in the week, when the spread registered its lowest level since 2007. A 10-year rate below the 2-year yield is viewed by fixed income traders as an important recession prognosticator, marking an unusual phenomenon as bondholders receive better compensation in the short term.
On the data front Thursday, the latest weekly jobless claims, a second reading of second-quarter GDP and advance economic indicators for July are all scheduled to be released at 8:30 a.m. ET. Pending home sales for July will follow slightly later in the session.CNBC's Sam Meredith contributed to this report.
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