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U.S. Treasury prices gave up slim gains Thursday, slipping into negative territory after a pair of decent economic signals. In early New York trading, benchmark 10-year notes edged down 5/32 in price to yield 2.366%, according to Tradeweb. The 30-year bond lost 14/32 to yield 3.086%. Bond yields rise when prices fall.

The latest weekly jobless claims report showed another decline, suggesting fewer layoffs. A separate report showed productivity rising 2% last quarter, better than economists had expected.

Still, the losses in Treasurys were limited as inflation remains contained and central banks around the world continue to hold an accommodative stance. Even though the U.S. Federal Reserve has stopped expanding its balance sheet from active bond purchases, other major central banks are pushing in the opposite direction in a bid to fire up their economies.

The European Central Bank earlier Thursday decided to keep its policy rates at historic lows. ECB President Mario Draghi warned again of the downside risks to the eurozone economy, pointing to weakening growth momentum.

Those remarks came after a surprise move by the Bank of Japan last Friday, announcing an expanded effort to buy financial assets to try to bolster growth and inflation in its own economy.

Fixed-income analysts expect the collective easing measures by those central banks to keep bond yields anchored. The 10-year German bund slipped slightly Thursday to 0.822%. The 10-year Japanese government bond yielded 0.47%.

For the U.S., bond traders say one key to untethering yields from the rest of the world is for inflation to perk up. Despite signals over the spring of increased pricing pressure, inflation expectations have only waned in recent months. That’s one factor allowing the Fed to remain patient about tightening policy.

Within Thursday morning’s productivity report, unit labor costs were shown rising 0.3%, less than the 0.5% expected and reflecting subdued growth in worker compensation.

Trading for the rest of the session is expected to stay range-bound, with investors focused on Friday’s monthly U.S. employment report for October. Economists surveyed by The Wall Street Journal expect to see 233,000 jobs added last month, leaving the unemployment rate steady at 5.9%. Any signs of faster improvement in hiring would put a dent in the demand for Treasurys.