MW: Treasurys rise after higher U.S. jobless claims
By Greg Morcroft, MarketWatch
NEW YORK (MarketWatch) — Treasury prices rose Thursday, sending yields lower, as U.S. economic data showed a rise in new claims for unemployment benefits that was the highest since January.
The data sparked concern that employment gains reported recently may be slowing. Read more about weekly data confirming recent trend in higher jobless claims.
The yield on the benchmark 10-year note TYM2 +0.18% trended down to 1.96%, back near the lowest of the week.
Bond prices, which move inversely to their yields, typically rise amid signs of economic weakness.
Treasurys also appeared to be catching a safe-haven bid amid renewed indications of turmoil in European bond markets. Read more on fresh France downgrade rumors.
Greg Morcroft is MarketWatch's financial editor in New York.
