Treasuries turned in another lackluster performance during trading on Thursday before ending the session roughly flat.
Bond prices spent the day bouncing back and forth across the unchanged line for the second consecutive session. The yield on the benchmark ten-year note, which moves opposite of its price, eventually ended the day unchanged at 2.124 percent.
The choppy trading came as traders digested a batch of economic data that was weaker than expected but was not bad enough to raise serious concerns about the economic outlook.
The Labor Department released a report showing that initial jobless claims climbed to 354,000 in the week ended May 25th from the previous week's revised figure of 344,000.
The increase partly offset the drop seen in the previous week, although economists noted that the data may have been distorted due to the Memorial Day holiday and the tornadoes in Oklahoma.
A separate report from the Commerce Department said economic activity in the first three months of 2013 grew by slightly less than previously estimated.
The report said gross domestic product increased at an annual rate of 2.4 percent in the first quarter compared to the previously reported 2.5 percent growth.
While private inventory investment, exports, and imports increased by less than previously estimated, the Commerce Department said the general picture of overall economic activity is not greatly changed.
Not long after the open, the National Association of Realtors released a report showing a smaller than expected increase in pending home sales in the month of April.
NAR said its pending home sales index edged up by 0.3 percent in April compared to economist estimates for a 1.4 percent increase.
Despite the much weaker than expected increase, the pending home sales index still reached its highest level since hitting 110.9 in April of 2010, just before the deadline for the homebuyer tax credit.
Meanwhile, the Treasury Department sold $29 billion worth of seven-year notes on Thursday, drawing a high yield of 1.496 percent and a bid-to-cover ratio of 2.70. The ten previous seven-year note auctions had an average bid-to-cover ratio of 2.67.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
Another batch of economic data may attract attention on Friday, with trading potentially impacted by reports on personal income and spending, Chicago business activity, and consumer sentiment.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.