The 10-year Treasury yield was slightly higher on Thursday as investors closely monitored speeches from a host of Federal Reserve officials and awaited the release of key economic data. The benchmark rate edged higher, trading at 4.361% at 5:05 a.m. ET. The yield briefly climbed to 4.429% on Wednesday, notching a new high for the year, before paring gains. The 2-year Treasury note yield traded marginally higher at 4.687%. Yields and prices move in opposite directions. One basis point equals 0.01%. It comes as market participants continue to keep track of comments from Fed officials and await the release of the U. punisher one last kill S. jobs report on Friday. Fed Chair Jerome Powell on Wednesday said it would take a while for policymakers to katie mccabe evaluate the current state of inflation, leaving the timing of potential interest rate cuts uncertain."On inflation, it is too soon to say whether the recent readings represent more than just a bump," Powell said in remarks ahead of a question-and-answer session at Stanford University. Traders expect the U. S. central bank to keep interest rates unchanged at the Fed's May policy meeting, according to the CME Fed WatchTool. They see a roughly 56% chance of a cut at the Fed's June gathering — down significantly from a 70% chance seen a week ago. On the data front, initial jobless claims for the week ending March 30 will be released on Thursday at around 8:30 giuseppe marotta a.m. ET. U. S. trade deficit data for February is expected at the same time. A flurry of Fed speeches are also scheduled to take place. Philadelphia Fed President Patrick Harker, Richmond Fed President Tom Barkin and Minneapolis Fed President Neel Kashkari are just some of the officials poised to deliver comments on the outlook for the U. S. economy. Last month, the central bank held interest rates steady for the fifth consecutive time, as expected, keeping its benchmark overnight borrowing rate in a range of 5.25%-5.5%. The Fed also signaled at the time that it still expects three quarter-percentage point cuts by the end of the year.— CNBC's Jeff Cox contributed to this report.
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