The benchmark 10-year T-bill yield soared to 1.6806% around 6 a.m. ET. The yield on the 30-year Treasury bill rose to 2.3416%. Yields move inversely with prices.
Economists expect 675,000 jobs to have been added in March, and the unemployment rate fell to 6% from 6.2%, according to Dow Jones.
Investors juggled a handful of economic data on Thursday as well as the ramifications of President Joe Biden’s announcement of a $ 2 trillion infrastructure bill.
First-time unemployment claims were higher than expected last week, with 719,000 more workers heading to the unemployment line, the Labor Department reported Thursday. The total compared to the Dow Jones estimate of 675,000 and was above the revised downward 658,000 last week.
Biden unveiled the infrastructure and economic stimulus package on Wednesday night. Biden’s plan called for spending on transportation, broadband, and affordable housing.
– CNBC’s Maggie Fitzgerald and Vicky McKeever contributed to this article.