By Ben Eisen, MarketWatch
NEW YORK (MarketWatch) -- Prices on longer-maturing Treasurys fell on Thursday, extending losses into a third session after mixed data on jobless claims and durable-goods orders.
The 10-year note 10_YEAR +1.27% yield, which moves inversely to price, rose 1 basis point to 2.603%, while the 30-year bond 30_YEAR +0.66% yield rose slightly to 3.649%.
The 7-year note 7_YEAR +1.36% yield rose 1 basis point to 1.997% ahead of an auction of $29 billion of debt at 1 p.m. Eastern.
Durable-goods orders jumped 4.2% in June, beating expectations of a 2.3% rise according to economists polled by MarketWatch. That marks the third straight month of sizeable gains in orders, with the Commerce Department revising May’s order growth up to 5.2%.
“The key focus of this report should be on the persistent strength in core capital goods orders ex defense, ex aircraft,” said Eric Green, global head rates, FX & commodity research at TD Securities, in a note. That number rose 0.7% in June, extending an “exceptional” trend, he said.
Weekly jobless claims ticked up by 7,000 to 343,000, signalling that more people applied for unemployment benefits last week. That just missed the expectations of economists, who had expected claims to rise to 342,000 from 336,000 the week before.
Treasurys fell alongside haven German government bonds, or bunds, with the 10-year bund BX:TMBMKDE-10Y +2.00% yield rising 1.5 basis points to 1.660% in Thursday trade, according to Tradeweb.
European data showed a slowly improving economy. The United Kingdom’s gross domestic product grew 0.6% in the second quarter compared to the first quarter. In Germany, the Ifo business confidence index rose to 106.2 in July compared to 105.9 in June, beating economist forecasts.
Treasurys followed German bunds lower on Wednesday, sending U.S. yields up to a near two-week high after positive global economic data.
Stock futures pointed downward on Thursday.
Ben Eisen is a MarketWatch reporter based in New York.
