Easing Interest Rate Concerns Contribute To Turnaround By Treasuries

(RTTNews) - After an initial move to the downside, treasuries showed a significant turnaround over the course of trading session on Thursday.

Bond prices climbed well off their early lows and firmly into positive territory. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, slid 7.0 basis points to 3.714 percent after reaching a high of 3.821 percent.

The turnaround by treasuries came following the release of a Labor Department report showing a jump in weekly jobless claims, which helped ease concerns about the outlook for interest rates.