U.S. Treasury yields were little changed on Thursday as investors looked to economic data that could provide fresh hints about the outlook for the economy and inflation.

The yield on the 10-year Treasury slipped 6 basis points to 3.560%. The 2-year Treasury was last trading at 4.107% after rising by around 2 basis points.

Yields and prices move in opposite directions and one basis point equals 0.01%.

Investors assessed the state of the economy as recent market turmoil led by the banking sector settled.

Regional and global banks have been under pressure since the collapse of Silicon Valley Bank earlier this month, prompting fears about a financial crisis. Both stock and bond markets have since been highly volatile.

Investors also considered how that may affect interest rate policy, as uncertainty about the U.S. Federal Reserve's plans has spread among investors.

Though the Fed hinted that rate hikes could be paused sooner than expected after it announced a 25 basis point rate increase last week, officials have also said that their battle against inflation is still ongoing. The Fed has pursued tighter monetary policy since early 2022 in an effort to cool the economy.

A series of Fed speakers are slated to make remarks on Thursday, which investors will be scanning. Also on Thursday, initial jobless claims data and gross domestic product figures are expected.

One of the Fed's favored inflation measures, the personal consumption expenditures price index, is due Friday.