Treasuries fell as initial jobless claims declined and before the government sells $6
billion of 30- year securities today as part of its quarterly refunding program. The
benchmark 10-year note sold yesterday yielded 3.86 percent as of 8:36 a.m. in New
York, according to BGCantor Market Data. The price of the 3 7/8 percent security due
May 2018 was little changed at 100. Yields on 30-year bonds rose 2 basis points to
4.62 percent. The yield on the two-year note was little changed at 2.30 percent.
Treasuries remained lower after a report showed initial jobless claims declined more
than economists had forecast in the week ended April 26, to 365,000 from 383,000 the
previous week, the Labor Department said today in Washington. The median forecast
in a Bloomberg News survey of economists was for a decrease to 370,000. The
market is unchanged to .125 better in discount this morning.
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