U.S. government debt prices were lower Thursday morning, as investors await Treasury auctions and fresh economic data.
The Federal Reserve held interest rates steady in a target range of 1.5%-1.75% on Wednesday, as many had expected, and indicated it would likely not make any policy changes through at least 2020.
The U.S. central bank’s decision to keep borrowing costs unchanged was unanimous, following several dissents in recent meetings.
Market participants also closely monitored global trade developments, with three days to go before the U.S. is due to impose even more tariffs on Chinese goods.
It is expected that the high-stakes meeting will see senior U.S. officials put forward divergent views on whether to go ahead with Sunday’s planned charges on approximately $156 billion in Chinese goods.
On the data front, the latest weekly jobless claims and producer price index (PPI) figures for November will both be released at 8:30 a.m. ET.
The U.S. Treasury is set to auction $40 billion in four-week bills, $35 billion in eight-week bills and $16 billion in 29-year and 11-month bonds on Thursday.