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US Treasuries trim gains after jobless data

us-treasury-noteNEW YORK: US Treasuries trimmed modest gains on Thursday after the US Labor Department's count of new filings for jobless benefits was lower than economists had forecast.

 

The benchmark 10-year yield stood at 1.68 percent after the report.

 

New jobless claims fell to 355,000 in the week ended Saturday, below the 370,000 median forecast in a Reuters poll.

 

A Labor Department analyst said Sandy, a mammoth storm that slammed into the East Coast on Oct. 29, boosted claims in some states by leaving people out of work, but also reduced claims in at least one state because power outages kept the state from collecting claim reports.

 

The storm could continue to affect the claims report for several more weeks, the analyst said.

 

Copyright Reuters, 2012