After data suggests a slowing economy, treasury yields retreat.
On Friday, U.S. Treasury bond yields decreased slightly as investors considered the most recent economic information for indications of a sluggish economy.
The 10-year Treasury yield decreased by 2 basis points to 4.2302%, while the 2-year Treasury note yield fell by over 1 basis point to 4.7130%.
Prices and yields move in opposite directions. A basis point is equivalent to 0.01%.
Last week, initial jobless claims data showed an increase, while housing starts fell more than expected last month.
The number of new unemployment claims in the US decreased by 5,000 to 238,000 for the week ending June 15, which was lower than the 235,000 claims economists predicted.
The Commerce Department's Census Bureau reported that housing starts, a crucial indicator for real estate investors, decreased by 5.5% to a seasonally adjusted annual rate of 1.277 million units in May. Additionally, a worse-than-anticipated Philadelphia Fed Manufacturing Index reading has added to recent indications of a slowing economy.
On Friday, traders will anticipate the release of manufacturing and services Purchasing Managers' Index readings for June, as well as existing home sales data for May.
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