Tepid economic data drove Treasuries prices higher and yields lower on Thursday as reports on new jobless claims, regional manufacturing and sales of existing homes argued for accommodative monetary policy in the months and years to come, a bullish development for bonds.
The benchmark 10-year Treasury note, flat in early dealings, rose modestly after news that new jobless claims last week were higher than forecast and firmed again on lackluster data on regional manufacturing and home sales. It was up 7/32 in price at mid-morning, with its yield easing to 1.95 percent from 1.98 percent late on Wednesday.
On the other hand, the March leading economic indicators index rose 0.3 percent. Economists had forecast a 0.2 percent increase. The index rose 0.7 percent in February.