Treasuries Climb on Jobless-Claims Rise Before Payrolls
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Treasuries advanced, pushing 10-year note yields to a three-month low, after more Americans than projected filed applications for unemployment benefits last week in another sign the labor market may be slowing.
The benchmark yield traded below 2 percent for a 14th day, the longest stretch since January, as a report showed jobless claims rose by 28,000 to 385,000 in the week ended March 30, the highest since Nov. 24, according to the Labor Department. Ten-year yields fell earlier as the Bank of Japan doubled monthly bond purchases in a bid to encourage inflation. A report due tomorrow is forecast to show the jobless rate remained at 7.7 percent.