WASHINGTON (dpa-AFX) - Treasuries moved moderately higher during trading on Thursday, regaining some ground after closing lower in the two previous sessions.
Bond prices moved to the upside in morning trading and remained positive going into the close. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 2.1 basis points to 2.243 percent.
The higher close by treasuries came amid light trading activity, as many traders looked to get a head start on the upcoming three-day weekend.
The bond markets closed earlier than usual this afternoon in honor of Christmas Eve and remain closed for all of Christmas Day on Friday.
Traders largely shrugged off a Labor Department report showing that initial jobless claims fell by more than expected in the week ended December 19th.
The report said initial jobless claims dipped to 267,000, a decrease of 5,000 from the previous week's revised level of 272,000.
Economists had expected jobless claims to edge down to 270,000 from the 271,000 originally reported for the previous week.
Following the long weekend, next week's trading may remain somewhat subdued ahead of New Year's Eve and the New Year's Day holiday.
Trading may be impacted by reaction to reports on consumer confidence, pending home sales, and Chicago-area business activity.
Bond traders are also likely to keep an eye on the results of the Treasury Department's auctions of two-year, five-year, and seven-year notes.
The Treasury is due to sell $26 billion worth of two-year notes next Monday, $35 billion worth of five-year notes next Tuesday and $29 billion worth of seven-year notes next Wednesday.
Copyright RTT News/dpa-AFX