Treasuries Move Lower For Third Consecutive Session

(RTTNews) - Extending the downward move seen over the two previous sessions, treasuries moved notably lower during trading on Thursday.

Bond prices came under pressure in early trading but regained some ground as the day progressed. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 4.6 basis points to 2.267 percent.

With the continued upward move on the day, the ten-year yield reached its highest closing level in over a month.

The continued pullback by treasuries came as central bankers around the world have recently signaled that interest rates may need to rise.

Bank of England Governor Mark Carney indicated on Wednesday that monetary stimulus may need to be withdrawn to some extent in future if U.K. wages pick up and business investment strengthens.

Separately, in an interview with CNBC, Bank of Canada Governor Stephen Poloz said low rates "have done their job."

In U.S. economic news, the Commerce Department released a report showing stronger than previously estimated economic growth in the first quarter.

The report said gross domestic product climbed by 1.4 percent in the first quarter compared to the previously reported 1.2 percent increase. Economists had expected GDP growth to be unrevised.

Meanwhile, a separate report from the Labor Department showed a slight increase in initial jobless claims in the week ended June 24th.

The report said initial jobless claims inched up to 244,000, an increase of 2,000 from the previous week's revised level of 242,000. Economists had expected jobless claims to edge down to 240,000.

Economic data may attract attention on Friday, with traders likely to keep an eye on reports on personal income and spending, consumer sentiment, and Chicago-area business activity.