Treasury yields inch higher as traders evaluate latest batch of economic data

U.S. Treasury bond yields rose on Thursday as investors weighed fresh economic data indicating further signs of a slowing economy.

The 10-year Treasury yield was about 4 basis points higher at 4.254%. The 2-year was up also around 4 basis points at 4.741%.Initial jobless claims data showed a rise from a week ago, while housing starts and permits fell more than expected last month. Investors also parsed a worse-than-expected reading of the Philadelphia Fed Manufacturing Index, contributing to recent signs of a slowing economy.

Kashkari added that he expects more cooling. "I hope it's modest cooling, and then we can get back down to more of a balanced economy," he said.

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