Treasury Yields Vary

Published April 25, 2025

U.S. Treasury Yields varied throughout the week as investors digested the newest data from the U.S. housing sector. Yields were lower at the end of the week as the latest employment data showed signs that the labor market remains strong.

On Wednesday, the Commerce Department’s Census Bureau released their monthly report on sales of new single-family homes. The report revealed a 7.4% increase in the sales of new homes, reaching 724,000 homes in March. This marked the highest level since September 2024 and surpassed analysts’ expectations of 680,000 units. On a year-over-year basis, new home sales increased 6.0%.

“While home sales are showing a seasonal uptick, they are weaker than expected and continue to trend below 2024 levels despite new for-sale inventory reaching the highest level since 2009,” said chief economist at Cotality, Selma Hepp. “In addition, many markets with growing new inventories have also experienced a significant rise in existing inventories and weakening overall demand.”

The benchmark 10-year Treasury note yield opened the week of April 21 at 4.34% and traded as low as 4.25% on Wednesday. The 30-year Treasury bond opened the week at 4.80% and traded as low as 4.71% on Wednesday.

On Thursday, the U.S. Department of Labor reported that initial claims for unemployment increased by 6,000 to 222,000 for the week ending April 19, slightly above economists’ expectations of 220,000. Continuing claims decreased by 37,000 to 1.84 million.

“Businesses are not squeezing labor costs just yet,” said chief U.S. economist at Pantheon Macroeconomics, Samuel Tombs. “Job losses are coming later this year in sectors most exposed to tariffs, such as retail, transportation and manufacturing, if the current menu of tariffs is maintained.”

The 10-year Treasury note yield finished the week of April 25 at 4.33% while the 30-year Treasury note yield finished the week at 4.71%.