Treasury yields moved lower on Thursday as investors monitored developments in the Middle East and awaited more domestic economic data due later in the session.<\/p>\n
Yields on 10-year U.S. Treasurys<\/a> \u2014 the main benchmark for mortgages, auto loans and credit card debt \u2014\u00a0were more than 7 basis points lower at 5.0732%.<\/p>\n The yield on the 2-year Treasury note<\/a>, which more closely follows short-term Federal Reserve rate decisions, was more than 5 basis points lower at 4.7654%. \u00a0The yield on longer-dated 30-year U.S. Treasurys<\/a> \u2014 which often moves on geopolitical developments \u2014 fell 6 basis points to 5.3751%.<\/p>\n One basis point equals 0.01%, or 1\/100th of 1%, and yields and prices move inversely to one another.<\/p>\n The slide in borrowing costs comes as investors look ahead to initial jobless claims data, due later from the Labor Department, amid a broader risk-off sentiment in stock markets and rising Middle East tensions.<\/p>\n Economists polled by Dow Jones are expecting the number of people claiming unemployment benefits to come in at 200,000 in the week ended Oct. 17.<\/p>\n Oil prices<\/a> moved sharply higher on Thursday, with West Texas Intermediate<\/a> futures edging closer to $100 a barrel in early trade, rising 2.81% at $99.96. Brent crude<\/a>, the global price benchmark, increased 3.33% to $112.44.<\/p>\n