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• 10-year Treasury note marginally higher at 1.472 percent
• 30-year Treasury bond yield increased to 1.867 percent
The Treasury yield in the United States surged early Thursday ahead of new inflation, consumer spending, and jobless data.
At 5:08 a.m. ET, the yield on the benchmark 10-year Treasury note marginally increased at 1.472 percent. The 30-year Treasury bond yield surged by less than one basis point to 1.867 percent.
According to economists polled by The Wall Street Journal, Core inflation, is expected to have risen at the quickest annual rate in over four decades in November. U.S Consumer spending is anticipated to have climbed in November, owing to job increases and growing earnings, high levels of family saving, and inflationary pressures.
At 8:30 a.m. ET, the Commerce Department will release new data on consumer spending and a key gauge of inflation while news jobless claims data are also due at the same time.
Meanwhile, Pfizer's Covid treatment tablet was approved by the FDA on Wednesday, making it the first at-home treatment for the coronavirus.
Read more: Biden delivers Omicron plan, says fully vaccinated people can safely celebrate the holiday
In a separate report on Wednesday, the National Association of Realtors said that existing-home sales increased 1.9 percent from the previous month to a seasonally adjusted annual rate of 6.46 million.
U.S. third-quarter GDP
The third-quarter economic growth rate in the United States was revised marginally higher, although it remained the worst since the second quarter of 2020.
The Commerce Department reported on Wednesday that the gross domestic product expanded at an annualized pace of 2.3 percent for the July-September quarter.
The GDP was predicted to be 2.1 percent last month. In the second quarter, the economy increased at a rate of 6.7 percent.
Growth was impeded in the third quarter by tight global supply networks, as well as Hurricane Ida at the end of August.