US Treasurys higher ahead of economic data

U.S. government debt prices were higher on Thursday morning as investors eyed several pieces of data.

The Treasury Department auctioned $28 billion in 7-year notes at a high yield of 2.084 percent. The bid-to-cover ratio, an indicator of demand, was 2.73.

Indirect bidders, which include major central banks, were awarded 81.7 percent. Direct bidders, which includes domestic money managers, bought 9.5 percent.

The yield on the 7-year note was 2.101 percent following the sale.

The yield on the benchmark 10-year Treasury note was lower at around 2.298 percent, while the yield on the 30-year Treasury bond was also lower at 2.967 percent. Yields move inversely to prices.

On the data front on Thursday, initial jobless claims, weekly jobless claims were down 1,000 to 234,00 and pending home sales slip 0.8 percent home sales.

In oil markets, Brent crude traded at around $51.72 a barrel on Thursday morning, down 0.19 percent, while U.S. crude was around $49.19 a barrel, down 0.87 percent.