NEW YORK (MarketWatch) -- Treasurys gained after the Labor Department said initial claims for unemployment benefits rose to the highest since 1982 in the latest week. Two-year note yields fell 5 basis points to 0.81%. Initial jobless claims rose to 573,000 in the week ended Dec. 6. Continuing claims rose to 4.4 million, also the highest in 26 years. Separate reports showed that import prices fell and the U.S. trade deficit unexpectedly increased. The central banks of Switzerland, Taiwan and Korea lowered their respective benchmark interest rates, indicating a growing concern of a global economic slowdown, to the benefit of government debt. Ten-year note yields were little changed at 2.68%, with $16 billion of the securities up for auction at 1 p.m. Eastern.
