US Treasurys flat as stocks barely budge
U.S. Treasury prices finished the day little changed Thursday as discouraging economic news keeps stocks stuck in neutral.
Measures of manufacturing and business activity slumped in both China and Europe Thursday. Railroad Norfolk Southern warned that it's shipping fewer goods. And the government said new claims for unemployment benefits remained high last week, a sign of continued weakness in the job market.
Stocks traded in a narrow band. Demand for safe investments pushed up Treasury prices, but barely.
The price of the 10-year Treasury note rose 6.25 cents for every $100 invested, pushing its yield down to 1.77 percent from 1.78 percent late Wednesday.
The price of the 30-year Treasury bond rose 25 cents for every $100 invested, pushing its yield down to 2.95 percent from 2.97 percent.
The yield on the two-year Treasury note was unchanged at 0.26 percent.
The yield on the three-month Treasury bill was unchanged at 0.11 percent.