Traders monitor economic data, trade concerns

U.S. government debt prices prices fluctuated Thursday morning as dampened trade optimism and weak data held back a solid start to the earnings season.At around 4:30 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 1.7413% while the yield on the 30-year Treasury bond slipped lower to 2.2219%.Earnings have been strong thus far, but trade concerns returned Wednesday as the Wall Street Journal reported that Chinese purchases of U.S. agricultural products may not be as substantial as initially thought, casting doubt over progress in talks between Washington and Beijing.U.S. Treasury Secretary Steven Mnuchin said Wednesday that trade negotiators from the world’s two largest economies are working to finalize a phase one trade deal draft to be presented to presidents Donald Trump and Xi Jinping.Traders will be monitoring U.S. industrial production data for September, due for release at 9:15 a.m. ET, for further indications on the health of the economy after Wednesday’s surprisingly weak retail sales figures.Auctions will be held Thursday for $55 billion in four-week bills and $40 billion in eight-week bills.Follow CNBC International on Twitter and Facebook.

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