Bond Report: Treasury yields edge higher on eve of Yellen’s Jackson Hole speech

Treasurys weakened slightly Thursday, allowing yields to edge marginally higher ahead of an eagerly awaited Friday speech by Federal Reserve Chairwoman Janet Yellen.

The yield on the 10-year Treasury note TMUBMUSD10Y, +0.22% rose 0.2 basis point to 1.561%, according to Tradeweb. Yields rise as debt prices decline; a basis point is a hundredth of a percentage point.

Yields extended their rise modestly after data showed a stronger-than-expected rebound in orders for durable goods in July and a dip in first-time applications for unemployment benefits.

Traders have stayed on the sidelines ahead of Yellen’s speech at the Kansas City Fed’s annual symposium in Jackson Hole, Wyo.

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