US Treasury yields bounce ahead of inflation report

• 10-year Treasury notes advance to 1.794 %

• 30-year Treasury notes surge to 2.249 %

The Treasury yield in the United States surged early Thursday with investors looking ahead to inflation data anticipated this week.

At 4:31 am ET, the yield on the benchmark 10-year Treasury notes advanced to 1.7994 %. The 30-year Treasury yield ticked up to 2.249 %. Yields move in the opposite direction of prices, and one basis point equals 0.01 %.

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The consumer price index for January, a crucial gauge of inflation, is scheduled to be released on Thursday at 8:30 a.m. ET. The inflation data is projected to indicate that prices grew 0.4 % in January, representing a 7.2 % increase over the previous year.

Meanwhile, at 8:30 a.m. ET, the number of unemployment claims filed during the week ended Feb. 5 will be announced.

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Stock Futures

Dow Jones Industrial Average futures decreased 0.19 % on Thursday. The S&P 500 futures drop 0.31 %, while the Nasdaq futures dropped 0.49 %.

On the regular trading day on Wednesday Nasdaq increased 2.08 %, S&P 500 climbed 1.5 %, and Dow Jones Industrial Average gained by 305.28 points or 0.86 %.

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Oil Prices

Brent crude futures, the global oil benchmark increased 0.37 % to $91.89 a barrel. WTI Crude oil prices ticked up 0.61 % to $90.25 per barrel.