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Treasuries showed a lack of direction over the course of the trading session on Thursday before closing roughly flat for the second straight day.
Bond prices spent the day bouncing back and forth across the unchanged line. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, edged down by less than a basis point to 2.153 percent.
The choppy trading came as traders kept an eye on the price of crude oil, with crude for August delivery rising $0.21 to $42.74 a barrel after ending the previous session at a ten-month closing low.
On the U.S. economic front, the Labor Department released a report showing a modest uptick in first-time claims for unemployment benefits in the week ended June 17th.
The report said initial jobless claims inched up to 241,000, an increase of 3,000 from the previous week's revised level of 238,000. Economists had expected jobless claims to edge up to 240,000.
A separate report from the Conference Board showed that its index of leading economic indicators rose in line with economist estimates in the month of May.
The Conference Board said its leading economic index climbed by 0.3 percent in May after rising by a downwardly revised 0.2 percent in April.
Ataman Ozyildirim, Director of Business Cycles and Growth Research at the Conference Board, said the continued upward trend by the index suggests the economy is likely to "remain on, or perhaps even moderately above, its long-term trend of about 2 percent growth for the remainder of the year."
Meanwhile, the Treasury Department announced the details of next week's auctions of two-year, five-year, and seven-year notes.
The Treasury said it plans to sell $26 billion worth of two-year notes next Monday, $34 billion worth of five-year notes next Tuesday and $28 billion worth of seven-year notes next Wednesday.
A report on new home sales in the month of May could attract attention on Friday along with remarks by several Federal Reserve officials.
