Treasury yields were down Thursday morning, but pared declines as investors weighed a report showing U.S. economic growth expanded slightly less than expected in the fourth quarter. The yield on the 10-year Treasury note was falling about 3 basis points to around 4.

The yield on the U.S. 10-year Treasury was flat on Wednesday as investors await the Federal Reserve's first interest rate decision of 2025.

Treasury yields edged lower in early European trading ahead of the Fed’s policy decision, with markets expecting the fed funds target range to remain unchanged.