Treasurys extend gains after jobless claims jump

NEW YORK (MarketWatch) — Treasurys remained higher Thursday after the Labor Department said initial claims for jobless benefits rose to 542,000 in the latest week, the highest since 1992. Ten-year note yields fell 12 basis points to 3.22%, the lowest since 2003. The Philadelphia Federal Reserve’s report on manufacturing in the region is also due out at 10 a.m. Eastern. Two-year note yields touched 1.02%, the lowest on record. Gains in shorter-term notes may be limited before the Treasury Department announces how much in two- and five-year notes it will auction next week.

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