MW: Treasurys flat after retail sales, jobless claims data
Treasurys gave up earlier gains Thursday after a pair of reports showed U.S. retail sales were stronger than anticipated and jobless claims rose. Ten-year note yields (UST10Y:
, , ) rose 1 basis point to 2.91%. Retail sales slid 0.1% in February, while economists surveyed by MarketWatch predicted a 0.4% decline. January figures were revised much higher. Excluding autos, sales rose 0.7% in February, compared to an expected 0.2% increase. Initial claims for unemployment benefits rose 9,000 to 654,000 in the week ended March 7. Continuing claims increased to a record 5.32 million, indicating finding a new job is getting harder. Bonds had been up slightly before the data as U.S. equities futures pointed lower. Also on tap, the Treasury Department will sell $11 billion in 30-year bonds.
