U.S. government debt prices were higher Thursday morning as spiking coronavirus cases in some U.S. states and also China dented hopes of a rapid economic recovery.
Texas saw an 11% rise in hospitalizations related to Covid-19 on Wednesday, while Arizona reported a record daily high of new confirmed cases.
Meanwhile, a new cluster of infections in Beijing prompted the city to cancel flights, close schools and block off certain neighborhoods, according to Reuters. The virus has now infected at least 8.3 million people around the world and 2.1 million Americans.
Investor focus will also be attuned Thursday morning to last week’s jobless claims numbers, set for publication at 8:30 a.m. ET. Weekly unemployment claims for the week ended June 13 are expected to come in at a seasonally adjusted 1.3 million, according to a Reuters poll of economists, down from 1.524 million the previous week.
Auctions will be held Thursday for $60 billion of 4-week Treasury bills, $55 billion of 8-week bills and $15 billion of 5-year TIPS.