NEW YORK (CNN/Money) - U.S. Treasury prices fell slightly Thursday on a report that showed manufacturing in the mid-Atlantic region surged in early April, offsetting a jump in initial jobless claims.
At about 3:45 EST the benchmark 10-year note fell 8/32 to 96-26/32 to yield 4.40 percent, up from 4.36 percent late Wednesday; and the 30-year bond shed 20/32 of a point with a yield of 5.20 percent, up from 5.16 percent Wednesday.
The two-year note held at 98-29/32 to yield 2.06 percent, and the five-year note fell 4/32 of a point to 98-17/32 to yield 3.44 percent.
The Federal Reserve Bank of Philadelphia said its index of business conditions rose to 32.5 in April from 24.2 in March. Economists polled by Reuters had expected a reading of 26.8.
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The employment component of the index fell slightly, to 12.2 from 12.3 the previous month, and the prices paid index dropped to 51.9 from 53.4 in March, keeping bond market concerns at bay about better hiring and rising inflation.
The New York survey countered a report from the Labor Department that showed 360,000 Americans issued first-time claims for unemployment insurance, up 30,000 from the previous week and 25,000 above economists' estimates.
A recent slew of positive economic reports, including strong gains in consumer prices, retail sales and corporate payrolls, has led market watchers to anticipate an interest rate hike by the Federal Reserve in the not-too-distant future.
In the currency market, the euro bought $1.1978, up from $1.1967 late Wednesday, and the dollar bought ¥108.3, down from ¥108.75 late in the previous session.
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