Treasury Prices Fall
MARKETSCOPE : Treasury bond prices sold off on Thursday as investors watched the job market.
Also contributing to the bearish tone, President Trichet hinted the European Central Bank will raise rates 25 basis points in June and not in May as many had speculated
The benchmark 10-year note fell 11/32 to 96-00/32 for a yield of 4.89%, while the 30-year bond tumbled 27/32 to 92-28/32 for a yield of 4.96%.
News hit that Initial Jobless Claims fell 5,000 to 299,000 in week ended April 1 from 304,000 the week before, which was revised from 302,000.
The Monster Employment Index jumped to a three-month 164 March from 157 in February. A majority of industries, occupations, and all nine U.S. Census Bureau regions registered increased online job availability during the month.
Investors speculated about Friday's pending March labor report.