Treasuries gave back some ground after an early move to the upside on Thursday but managed to remain in positive territory throughout the day. Bond prices moved roughly sideways in afternoon trading, hovering modestly above the unchanged line. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, edged down by 1 basis point to 0.674 percent. The modest uptick by Treasuries came amid renewed concerns about a spike in Coronavirus Cases after California, Texas and Florida all reported their biggest single-day increases in cases. According to a tally by NBC News, the U.S. saw a record 45,557 reported Wednesday, surpassing the peak seen during the first wave of the coronavirus on April 26th. Traders may be worried about the possibility of states reimposing restrictions on businesses, although the Trump administration has ruled out another lockdown. Texas Governor Greg Abbott announced that the state will pause its reopening plan due to the recent jump in coronavirus cases. On the economic front, a report from the Labor Department showed a much smaller than expected drop in initial jobless claims in the week ended June 20th, but the report also showed a notable decrease in continuing claims....

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