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MW: Treasurys swing higher ahead of Jackson Hole
 
NEW YORK (MarketWatch) — U.S. Treasury prices swung higher Thursday as investors turned their attention to an economic symposium in Jackson Hole, putting benchmark yields on track to snap a three-day rise.

The 10-year note 10_YEAR, -0.45% yield, which falls as prices rise, was slightly down on the day at 2.426%. Since hitting a 14-month low last Friday, the yield has moved higher for three consecutive sessions.
The Jackson Hole conference, which brings together a number of prominent central bankers, will include a speech from Fed Chairwoman Janet Yellen on Friday. Investors expect Yellen to hold tight to the central bank’s low-rate message, but they will nonetheless watch for any changes in tone. A number of other Fed officials are slated to speak in the coming days.

Here’s what investors are keeping an eye on during the trading session.

Weekly jobless data showed that 298,000 people applied for unemployment benefits last week, a drop of 14,000 from the previous data set. Economists polled by MarketWatch had expected a reading of 300,000.
Esther George, the president of the Kansas City Fed, said in a television interview that the central bank should begin hiking interest rates sooner rather than later. She is one of the most hawkish members of the Fed.
A slew of other data on Thursday morning will include Markit flash PMI at 9:45 a.m. Eastern. At 10 a.m., releases include the Philadelphia Fed index, existing home sales, and leading indicators. See the full economic calendar.
The Treasury Department will sell $16 billion in 5-year Treasury inflation-protected securities at 1 p.m. John Canavan of Stone McCarthy Research Associates, writes that the new supply, “could add on the margins to the pressure on the belly of the curve.”
The 30-year bond 30_YEAR, -0.22% yield fell half a basis point to 3.215%, while the 5-year note 5_YEAR, -0.67% yield was down half a basis point at 1.625%.

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