U.S. government debt prices added to gains as investors weighed weekly jobless claims figures and the latest European Central Bank interest rate announcement.
The 10-year benchmark Treasury note yield slid to 2.774 percent after closing at 2.285 percent on Wednesday after the U.S. Federal Reserve’s “Beige Book” survey indicated businesses across the U.S. continued to add jobs, but wage growth remained muted.
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Weekly jobless claims fell below 300,000, after rising above that level last week for the first time since September. The report comes ahead of Friday’s monthly nonfarm payroll data.
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The ECB will also be in focus today, as expectations of additional policy action have been stoked in recent weeks by poor data and dovish talk from certain policymakers.
A Reuters poll of economists this week showed that none of them expected any action to be unveiled, however. The rate decision is due at 12:45 p.m. London time. Draghi will speak in front of the press shortly afterwards.