A surge in new claims for unemployment insurance pushed Treasury prices higher yesterday and late in the afternoon, the 30-year bond was up 3/8 point to yield 8.46%.

The unexpectedly large rise in claims was one of the first weak statistics the market has seen in recent weeks, and it offered bond traders some hope that the economic recovery will be modest.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.