Treasurys fell slightly Thursday, pushing two-year note yields up for the first time in six days, after the Labor Department said initial claims for unemployment benefits declined while the trend in continuing claims remained near a five-year high.
Two-year note yields (UST2YR) rose 7 basis points, or 0.07%, to 2.32%. Yields move in the opposite direction of price.
Claims for unemployment benefits fell 13,000 to 432,000 in the week ended Aug. 16. Economists surveyed by MarketWatch expected claims to total 440,000. The four-week moving average of continuing claims rose to 3.33 million.
The data have been skewed in the past few weeks by an extension in federal benefits and filers re-applying for state benefits.
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