U.S. Treasury yields declined on Thursday morning as investors digested Federal Reserve minutes and followed developments in the Russia-Ukraine situation.

Refer to the benchmark yield 10-year Treasury noteLost 4 basis points and fell to 2.0015% at 4.15 a.m. ET. The yield of the 30-year Treasury bondThe rate of change was 4 basis points less at 2.3211%. Yields are inversely related to price movements and one basis point equals 0.01%.

Fed January meeting minutesWednesday’s minutes released a more dovish update by the central bank. Minutes indicated that Fed will likely increase interest rates shortly and detailed its plans to eliminate trillions in bonds from its balance sheet.

Charlie Ripley (senior investment strategist, Allianz Investment Management) stated on Wednesday that Fed Minutes indicate “a quicker pace of tightening relative the last hiking cycle.”

He said, “On the whole, the minutes did not suggest that the Fed would become more aggressive than the market’s already priced-in.”

Investors’ attention remained focused, however, on geopolitical tensions. NATO officials charged Russia Wednesday with causing the crisis. increasing its number of troopsA day after Moscow said it had begun to withdraw its military units, the Ukrainian border was occupied.

On Thursday, economic data will be released. January’s figures for building permits and housing starts are expected to come out at 8:30 AM. ET.

At 8:30 AM, the number of jobless claims for initial employment filed in week ending February 12th is due to be released. ET.

Auctions for $4 billion (4-week) bills, $40 billion (8-week), and $9 BILLION (30-week Treasury inflation-protected Securities are scheduled to take place on Thursday.

— This market report was contributed by CNBC’s Jeff Cox, and Chloe Taylor.