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Treasuries Flat Following Economic Data


Treasuries basically were unchanged around midday Thursday, even though two economic reports pointed to continuing weakness.

According to data from the Labor Department, the number of U.S. workers filing new claims for unemployment benefits approached a nine-year high as the terrorist attacks of Sept. 11 compounded the factory sector's woes.

First-time jobless claims increased by 6,000 in the week that ended Saturday to 490,000. Initial applications in the last week of September reached 535,000.

In another report, the Federal Reserve Bank of Philadelphia said manufacturing in the mid-Atlantic region contracted in October for the 11th straight month.

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Government debt was flat following the news. Around 12:30 p.m. EDT, the two-year note was unchanged at 99 31/32, yielding 2.76%. The five-year was flat at 103 16/32, yielding 3.78%. The 10-year Treasury was down 1/32 to 103 12/32, yielding 4.57%, and the 30-year bond was up 1/32 to 100 30/32, to yield 5.31%.