TREASURIES-Bonds add losses after jobless claims data

NEW YORK Thu Jan 20, 2011 8:37am EST

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NEW YORK Jan 20 (Reuters) - U.S. Treasuries extended earlier losses on Thursday after a larger-than-expected drop in jobless claims rekindled the view of an acceleration in hirings and a strengthening of the overall economy.

First-time filings for U.S. unemployment benefits totaled 404,000 in the week ended Jan. 15, below an expected figure of 420.000. The prior week's reading was revised to 441,000 from an initial reported 445,000, the U.S. Labor Department said on Thursday. For more, see [ID:nLLAKCE7AJ]

The price on benchmark 10-year notes US10YT=RR last traded down 11/32 for a session high yield of 3.38 percent. This compared with a price decline of 6/32 and a yield of 3.36 percent shortly before the release of the jobless claims data.

(Reporting by Richard Leong. Editing by W Simon )

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