Treasury yields climb over jobless data

Treasury yields were slightly higher Thursday as U.S. weekly jobless benefit claims fell with a reading of initial jobless claims for the week ended Oct. 16 which dropped by 6,000 to pandemic low of 290,000.

Yields were drifting higher as weekly jobless claims showed companies shying away from layoffs amid the biggest U. S. labor shortage.

Investors expressed concerns about rising inflation ahead of the next Federal Reserve policy meeting in early November.