Treasuries are seeing some weakness in morning trading on Thursday, as investors have largely shrugged off some disappointing employment data and moved into riskier investments such as the stocks. The day's move comes as part of a recent resurgence of risk appetite in the markets as stocks are poised to continue their recent gains.

Traders have largely focused on forward looking data such as better-than-expected pending home sales released Wednesday, which may be indicative of a silver lining in the near-term for the economy. The housing sector has been especially closely watched as it has been identified as a key driver in economic recovery.

Later this morning, investors will consider more economic data from the Commerce Department, with factory goods orders expected to edge up for the month of February.

Although treasuries have moved well off of their morning lows, they are continuing to tread in negative territory. Subsequently, the yield on the benchmark ten-year note is up to 2.701 percent, an increase of 4.3 basis points on the day.

Later today, traders will look to the next round of security purchases from the New York Federal Reserve, with the government due to buy treasuries set to mature between the years 2013 and 2016. The purchase is part of the Fed's plan to buy back a total of $300 billion in longer term securities aimed to lower interest rates and thaw credit markets.

Wednesday, the Fed bought back just over $6 billion in treasuries maturing between 2012 and 2013 after dealers had offered $16.95 billion for the purchase.

Meanwhile on the economic front, the Labor Department released its report on initial jobless claims in the week ended March 28th on Thursday, showing an unexpected increase in first time claims for unemployment benefits.

The report showed that initial jobless claims rose to 669,000 from the previous week's revised figure of 657,000. Economists had expected jobless claims to edge down to 650,000 from the 652,000 originally reported for the previous week.

Additionally, the number of individuals needing continued unemployment help climbed to another new record of 5.728 million in the week ended March 21 from the previous week's revised reading of 5.567 million.

The Commerce Department is due to release its report on factory goods orders for February at 10 am ET. Orders for manufactured goods are likely to have increased 1.5 percent in the month.

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