Treasuries End Mostly Lower

Treasuries sunk on a plunge in jobless claims

Treasuries erased yesterday's corrective rally, as economic gravity got the better of them following a plunge in jobless claims on Thursday. In all likelihood the data was distorted by auto retooling effects, which typically raise claims in July then lower them. Yet, claims plunged 29,000 to 386,000, with commensurate drops in the 4-week moving average and continued claims, feeding the market's fears that the economy continues to right itself.

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