Treasuries moved notably higher over the course of the trading day on Thursday, regaining some ground after trending lower over the past few sessions.
Bond prices moved to the upside in morning trading and managed to remain firmly positive throughout the afternoon. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 5.6 basis points to 2.174 percent.
With the decrease on the day, the ten-year yield gave back some ground after ending the previous session at its highest closing level in over a year.
The strength among treasuries was partly due to news that the World Bank lowered its growth forecast for the global economy.
The World Bank said it now expects the global economy to grow by 2.2 percent this year, decelerating from the 2.3 percent expansion in 2012. The projection was weaker than the January forecast for a 2.4 percent expansion.
The lender said the downward revision to its forecast reflects a deeper-than-expected recession in Europe and muted growth in developing countries.
The news increased the appeal of safe havens such as bonds even though the slew of U.S. data released on the day was largely upbeat.
Traders largely shrugged off reports showing a bigger than expected increase in retail sales and an unexpected drop in weekly jobless claims.
Meanwhile, the Treasury Department sold $13 billion worth of thirty-year bonds, attracting slightly below average demand.
The thirty-year bond auction drew a high yield of 3.355 percent and a bid-to-cover ratio of 2.47, while the ten previous thirty-year bond auctions had an average bid-to-cover ratio of 2.58.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
Today's thirty-year bond auction came after the Treasury sold $32 billion worth of three-year notes on Tuesday and $21 billion worth of ten-year notes on Wednesday.
Trading on Friday could be impacted by another batch of U.S. economic data, including reports on producer prices, industrial production, and consumer sentiment.
For comments and feedback contact: editorial@rttnews.com
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.