As investors assess the economic outlook and a weak auction, treasury yields increase.

On Thursday, U.S. Treasury yields increased as investors analyzed economic information and Federal Reserve officials' remarks to determine potential future economic developments.

The yield on the bond increased by more than 11 basis points to 4.771%, surpassing the closely watched 5% level. The yield on the bond also rose by nearly 9 basis points to 5.033%, while the yield on the bond increased by 13 basis points to 4.636%.

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

Since the Treasury auction saw weak demand, the department sold $24 billion in 30-year bonds. The sale's bid-to-cover ratio, a measure of demand, was the weakest in roughly two years. Indirect and direct bidders were also at their weakest levels in since 2021.

In the afternoon, investors analyzed Fed chair Jerome Powell's remarks. He stated that the central bank was "uncertain" if it had taken sufficient measures to reduce inflation.

Last week, the Fed decided not to change interest rates, but Powell stated that the possibility of future interest rate increases remained on the table, and rate cuts were not yet being considered.

Many investors are uncertain about the duration of elevated interest rates and the possibility of a recession in the U.S. economy.