On Thursday morning, U.S. Treasury yields dropped as investors digested minutes from the Federal Reserve’s latest meeting minutes.

The benchmark yield 10-year Treasury noteThe index dropped 3 basis points to 2.7165% by 3:45 a.m. ET. ET. 30-year Treasury bondThe rate of change was 2 basis points lower at 2.9412%. Yields are inversely related to price movements and one basis point equals 0.01%.

The Fed published the minutesThe central bank’s May meeting was held Wednesday afternoon. It indicated it was ready to continue with several 50-basis point interest rate hikes, possibly going even further than what the market had expected.

Federal Open Market Committee said also that the central bank could move beyond its neutral policy position into more restrictive territory.

Yogi, founder and CEO of Hassium Asset Management said on Thursday that Fed minutes were “much more hawkish” than what the market expected. We’ve always considered Fed rate rise expectations overstated.

Dewan indicated that his firm expected lower rate hikes due to slower economic growth. However, he noted that “the problem with that is that you don’t have enough economic data” in order to justify that. [in terms of how]This will happen over the next three to 6 months.

The minutes were released on Wednesday and Treasury yields showed little change, but U.S. stocks moved higher.

Markets are worried about economic slowdown because of disappointing earnings announcements from tech companies.

A second estimate of U.S. GDP growth in the first quarter will be released on Thursday at 8:30 am. ET.

Also, at 8:30 am the numbers of unemployment claims that were filed over the week ended on May 21 are expected to be published. ET.

The release of April’s home sales data for April is scheduled to take place at 10:00 a.m. ET.

On Thursday, auctions will be held for $35 billion in 4-week bills and $30 billion 8-week notes. There are also $42 billion 7-year notes.

— CNBC’s Jeff Cox helped to create this report.