U.S. government debt prices were higher Thursday morning, as investors awaited economic data and Treasury auctions.
Market focus is largely attuned to the coronavirus outbreak, as investors continue to assess the potential economic impact of the deadly pneumonia-like virus.
China’s National Health Commission reported Thursday that 74,576 cases of the coronavirus had been confirmed, with 2,118 deaths on the mainland.
On Wednesday, the latest meeting minutes from the Federal Reserve showed officials at the U.S. central bank had identified the coronavirus as a “new risk to global growth.”
Central bank policymakers also warned that if the coronavirus continued to spread, it could hit what appeared to be an improving growth picture in China.
Richmond Fed President Tom Barkin will comment on the world’s largest economy at an event in Cambridge, Massachusetts on Thursday.
On the data front, the latest weekly jobless claims and Philadelphia Fed manufacturing figures for February will both be released at 8:30 a.m. ET. The leading index for January will be published slightly later in the session.
The U.S. Treasury is set to auction $50 billion in four-week bills, $45 billion in eight-week bills and $8 billion in Treasury Inflation-Protected Securities (TIPS) on Thursday.