Treasury yields are flat as investors digest omicron data

Treasury yields were largely flat in early trade on Thursday, ahead of the long holiday weekend.

The yield on the benchmark 10-year Treasury note was marginally higher at 1.4652% at 7.15 a.m. ET, while the yield on the 30-year Treasury bond ticked up less than 1 basis point to 1.8633%. Yields move inversely to prices and 1 basis point is equal to 0.01%.

Bond markets are closed on Friday, Dec. 24 for the Christmas holiday.

Treasurys

Investors are taking encouragement from some positive news on the omicron Covid variant. A study from South Africa, published Tuesday, indicated that people infected with the omicron coronavirus variant were 80% less likely to be admitted to hospital than if they contracted other strains.

Elsewhere, studies from Scotland and England appear to back up the South Africa findings.

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Meanwhile, the FDA authorized Pfizer's Covid treatment pill on Wednesday — making it the first oral antiviral drug cleared since the start of the pandemic.

Investors will also be watching some key inflation data due on Thursday, including prices for core personal consumption expenditures. Consumer sentiment numbers and jobless claims will also be released, as will jobless claims data.

Auctions are slated to be held for 4-week and 8-week bills.

CNBC's Tanaya Macheel contributed to this report.

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