U.S. government debt prices were lower Thursday morning, as investors awaited Treasury auctions and a fresh batch of economic data.

At 4:00 a.m. ET, the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.9457%, while the yield on the 30-year Treasury bond was higher at around 2.4162%.

Market focus is largely attuned to global trade developments after President Donald Trump said earlier this week that the U.S. and China would soon sign a long-awaited trade pact.

The so-called “phase one” deal is set to be signed at the White House on Jan. 15, though the precise details of the agreement have not yet been shared publicly.

Washington and Beijing have imposed tariffs on billions of dollars’ worth of one another’s goods since the start of 2018, battering financial markets and souring business and consumer sentiment.

On the data front, the latest weekly jobless claims and manufacturing Purchasing Managers’ Index (PMI) for December will be released during morning deals.

The U.S. Treasury is set to auction $35 billion in four-week bills and $35 billion in eight-week bills on Thursday.

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