Treasury yields rose across the board Thursday, with the 10-year note reversing some of the losses it made on Wednesday after the Bank of England launched a bond-buying plan designed to stabilize market chaos in the U.K.
The yield on the benchmark 10-year Treasury rebounded to 3.749%. During Wednesday's session, it plummeted by 25 basis points after briefly breaching the 4% mark. That marked the largest intraday drop since 2020.
The policy-sensitive 2-year Treasury yield also rose to 4.176%.
Yields and prices have an inverted relationship and one basis point is equivalent to 0.01%.
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Bond markets have been contending with concerns about rising interest rates, a looming recession and high volatility in global currency markets.
The British pound slid to historical lows against the dollar and the U.K. 10-year gilt soared to 14-year highs earlier in the week. On Wednesday, the Bank of England said it planned to temporarily push back gilt sales and buy long-dated bonds to stabilize the situation.
Meanwhile, a series of Federal Reserve speakers made hawkish comments throughout the week, causing traders to anticipate further interest rate hikes. This has, however, also stoked fears of a recession among investors who are concerned about the speed of rate hikes.
Jobless claims for the week ended Sept. 24 totaled 193,000, hitting a five-month low, according to the Labor Department on Thursday. The figure was lower than the prior week's adjusted 209,000 and below the 215,000 Dow Jones estimate.
— CNBC's Jeff Cox contributed to this report.