December 11, 2008 / 1:51 PM / 11 years ago

TREASURIES-Up on unexpectedly big US jobless claims jump

NEW YORK, Dec 11 (Reuters) - U.S. Treasuries rose on news that the number of U.S. workers filing new claims for jobless benefits surged to a 26-year high last week.

Labor Department data showed that initial claims for state unemployment insurance benefits jumped by 58,000, the biggest increase since September 2005, to a seasonally adjusted 573,000 in the week ended Dec. 6 from an upwardly revised 515,000 the previous week.

The price on benchmark 10-year notes US10YT=RR, up 6/32 before the news on jobless claims, climbed to a 12/32 point gain after the news came out, their yields easing to 2.65 percent from 2.70 percent late on Wednesday. (Editing by Walker Simon)

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