NEW YORK May 2 U.S. Treasuries prices weakened
further on Thursday on news that the number of Americans filing
new claims for jobless benefits fell to the lowest level in more
than five years.
The benchmark 10-year Treasury note fell 9/32, about
doubling its loss before the jobless claims data release. Its
yield rose to 1.66 percent from 1.63 percent late on Wednesday.
Treasuries had weakened earlier after the European Central
Bank cut its main interest rate by 25 basis points to a record
low of 0.50 percent.
The U.S. Labor Department said new U.S. jobless claims fell
to 324,000 in the week ended April 27 - the lowest level since
January 2008 - from a revised 342,000 new claims the week
The data has no direct bearing on the Labor Department's
monthly employment report for April due on Friday. However, it
suggests that while employers have been shy about hiring, they
are feeling less pressure to lay workers off.