- Initial jobless claims came in higher than expected on Thursday.
- Wells Fargo strategists said in a note on Wednesday that demand for $27 billion worth of 20-year bonds was "weak from nearly all perspectives."
U.S. Treasury yields fell in choppy trading on Thursday following the release of weekly jobless claims data and other economic data.
The move in Treasury yields accompanied a higher-than-expected reading for initial jobless claims from last week. The job market data comes as U.S. policymakers continue to work on another round of economic relief, and some investors may view the weak data as a catalyst for a larger package.
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Meanwhile, an auction for $27 billion worth of 20-year bonds on Wednesday was "weak from nearly all perspectives," Wells Fargo strategists said in a note. "Today's auction was a key barometer for the demand for duration near new highs on yields over the past year," the strategists said.
Auctions were held Thursday for $30 billion worth of four-week bills, $35 billion of eight-week bills and $9 billion of 30-year Treasury inflation-protected securities.