Treasury yields fall after Fed minutes

US Treasury yields were mostly flat on Thursday, as investors digested the minutes of the latest Federal Reserve meeting.

The yield on the benchmark 10-year Treasury note fell marginally to 2.74%. The yield on the 30-year Treasury rose 1 basis point to 2.974%. Yield moves inversely with prices, and one basis point is 0.01%.

The Fed released the minutes of its May meeting on Wednesday afternoon, which indicated that the central bank was ready to go ahead with multiple interest rate increases of 50 basis points, likely to go further than the market had expected.

The FOMC also said that the central bank may move beyond its “neutral” policy stance into a “restrictive” area.

Yogi Dewan, CEO and founder of Hassium Asset Management, told CNBC’s “Squawk Box Europe” on Thursday that the Fed’s meeting minutes were “much less hawkish than the market had been expecting, and we’ve always seen that rate hike expectations by the Bank of The Fed is overrated.

For this reason, Dewan said his company expects a smaller rate hike on the back of slowing economic growth, but noted that “the problem is that you haven’t had the economic data in front of you to justify it yet.” [in terms of how] It will start over the next three to six months.”

Wednesday’s Treasury yields saw little movement after the minutes were released, while US stocks rose.

On Thursday, the second estimate of US GDP growth for the first quarter is due at 8:30 AM ET.

The number of jobless claims filed during the week ending May 21 will also be released at 8:30 AM ET.

April pending home sales data is due at 10 AM ET.

– CNBC’s Jeff Cox contributed to this market report.