US Treasury Yields Retreat Amid Expectations of Economic Data

US Treasury yields retreated on Thursday as investors looked ahead to key economic data for clues on growth, inflation, and the Federal Reserve's next steps.

The benchmark 10-year Treasury yield fell by more than 2 basis points to 4.7680%, while the 30-year Treasury yield dropped about 2 basis points to 5.2433%.

Investors are now turning their attention to Friday's US nonfarm payrolls report and unemployment data for August, which could provide a fresh indication of how much room the Federal Reserve has to adjust interest rates.

The move in US Treasuries followed a broader recovery in global government bonds after yields reached multi-year highs.