Drop In Jobless Claims Pull Treasury Prices Down


Salon Staff
January 20, 2012 1:45AM (UTC)

A drop in applications for unemployment benefits is pushing U.S. Treasury prices down in late afternoon trading.

The Labor Department said Thursday that the number of people applying for unemployment benefits sank to 352,000. That's much lower than economists expected and the lowest level since April 2008, before the worst days of the financial crisis.

Advertisement:

The price on the 10-year Treasury note fell 71.8 cents for every $100 invested. That pushed its yield up to 1.98 percent from 1.90 percent late Wednesday.

Signs of a stronger economy tend to send traders out of low-risk Treasurys, which causes their yields to rise. The price of the 30-year Treasury bond fell $1.65 per $100 invested, lifting its yield to 3.04 percent from 2.95 percent late Wednesday.


Salon Staff

MORE FROM Salon Staff

BROWSE SALON.COM
COMPLETELY AD FREE,
FOR THE NEXT HOUR

Read Now, Pay Later - no upfront
registration for 1-Hour Access

Click Here
7-Day Access and Monthly
Subscriptions also available
No tracking or personal data collection
beyond name and email address

•••





Fearless journalism
in your inbox every day

Sign up for our free newsletter

• • •