Bond prices up after jobless claims top forecast

NEW YORK: US Treasuries prices rose on Thursday after the government reported a higher level of new jobless claims than economists had forecast.

Benchmark 10-year Treasury notes, up 1/32 before the report, were up 5/32 afterwards, their yields easing to 3.42 percent from 3.44 percent on Wednesday.

New US claims for unemployment benefits fell last week to a seasonally adjusted 388,000, from an upwardly revised 394,000 the previous week.

Economists polled by Reuters had expected claims to slip to 380,000 from the 382,000 new claims reported the previous week, but revised up to 394,000 this week.