In light of concerns around inflation and policy tightening, Paul Jackson, global head of asset allocation research at Invesco, told CNBC's "Squawk Box Europe" on Thursday that he believed the 10-year Treasury yield could top 2.5% this year.
"Rising bond yields will penalize the S&P 500 more than many other major indices because of the concentration of growth stocks within that index," he said. Jackson predicted at the beginning of the year that the S&P 500 could close 2022 lower than it started. Meanwhile, the number of jobless claims filed during the week ended Feb. 5 is also due to be released at 8:30 a.m. ET.
Auctions are scheduled to be held for $50 billion of 4-week bills, $40 billion of 8-week bills and $23 billion of 30-year bonds.
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