10-year Treasury yield surges above 4.6% as investors await jobless claims

In the United States, Treasury yields have experienced an uptick recently, with the 10-year yield rising by 3 basis points to 4.607%. This jump comes in the context of mixed jobless claims data released on Thursday, December 26, 2024, which indicated that initial claims for the week ending December 21, 2024, were lower than expected. The data showed claims fell to 219,000, which is below the anticipated 225,000 according to Dow Jones forecasts. Conversely, continuing claims for the week ending December 14 rose by 46,000, marking the highest level since November 2021. The increase in continuing claims suggests some underlying weaknesses in the labor market, amidst a backdrop of rising Treasury yields.