Treasuries End Stronger

Treasuries moved higher on short-covering ahead of payroll data

Thursday was all about position adjusting ahead of employment data. A laundry list of mixed data sparked very little flow, with the exception of jobless claims. While the weekly claims data showed improving labor conditions, the Street focused on strength in the continuing claims component. But the ensuing pullback was bought, and the 4.75% yield in 10-year notes continued to attract short covering.

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