US yields fall after GDP, jobless claims data
NEW YORK, May 30 (Reuters) -U.S. Treasury yields slid on Thursday after data showed the world's largest economy grew slower than previously estimated in the first quarter as consumer spending was revised lower, suggesting that the Federal Reserve is on track to cut interest rates this year.
U.S. economic activity, as measured by gross domestic product, grew at an 1.3% annualized rate in the first three months of the year, down from the advance estimate of 1.6% and significantly slower than the 3.4% pace in the final three months of 2023.
U.S. jobless claims, meanwhile, rose in the latest week.
The benchmark 10-year yield US10YT=RR fell after the data and was last down 4.8 basis points (bps) at 4.575%.
Reporting by Gertrude Chavez-Dreyfuss; Editing by Toby Chopra
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