Treasuries Advance as Report Shows U.S. Jobless Claims Rose
Aug. 25 (Bloomberg) — Treasuries rose as a government report showed initial jobless claims unexpectedly increased last week, fueling concern the economic recovery is slowing and stoking demand for U.S. debt. Treasuries snapped three days of decline speculation Federal Reserve Chairman Ben S. Bernanke may disappoint investors betting on a commitment to step up stimulus. European and Asian stocks rose a day before Bernanke’s remarks at a conference in Jackson Hole, Wyoming. Pre-auction trading indicates today’s $29 billion government offering of seven-year notes will produce a record low auction yield. “The Treasury market is reacting to the headline number being … Read more