After sliding on the hint of a Fed rate cut, Treasury yields remained steady on Thursday.

Federal Reserve Chairman Jerome Powell hinted at a possible September rate cut, causing steady treasury yields on Thursday as investors digested his comments.

On Wednesday, the yield traded around 4.28% before tumbling to roughly 4.26% in late trading. It then recovered slightly. On Thursday, the yield hovered around 4.05%, after falling to 4.03% late in the previous session.

Prices and yields move in opposite directions, with one basis point equal to 0.01%.

After the conclusion of the Fed's July meeting, Chairman Powell hinted at a possible September rate cut, resulting in a decline in yields on Wednesday.

In a press conference following the Fed meeting, he stated that the committee's broad view is that the economy is approaching the point where it would be suitable to lower our policy rate.

Powell stated that the Fed will consider economic data, expectations, and risks in addition to inflation and labor market signals when making its decision, and a reduction in the policy rate could be considered at the next meeting in September.

This year, there are three Fed meetings left on the calendar and the central bank did not change interest rates.

The Bank of England will reveal its latest interest rate decision on Thursday, with some analysts predicting a rate cut, but uncertainty persists due to unclear signals from the BOE.

The weekly initial jobless claims data and the July jobs report, including nonfarm payrolls and unemployment figures, will be released in the U.S. on Thursday and Friday, respectively. Additionally, insights from the manufacturing sector are also expected on Thursday.