MW: Treasurys up as jobless, goods orders data worse than seen
Treasurys were mostly higher early Thursday, pushing yields down, after the government said initial jobless claims rose more than predicted and durable goods orders dropped. Two-year note yield fell 4 basis points to 0.87%. The Labor Department said first-time claims for unemployment benefits rose to 588,000 in the week ended Jan. 24. Continuing claims rose to a record 4.78 million. A separate report said orders for durable goods in December fell 2.6%, compared with a 2% decline predicted by economists surveyed by MarketWatch. Still to come, data on new home sales is due at 10 a.m. Eastern time. Longer-term bonds remained lower after the House of Representatives passed an $819 billion economic stimulus package late Wednesday. Pressure will also still come from the upcoming Treasury Department auction of $30 billion in five-year notes, the last major sale of the week.
