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BOND REPORT: Treasurys Give Up Gains As Equities Recover

Treasurys lost most of their early gains Thursday as stocks recovered from a sharp morning drop on improving economic data.The 10-year note (10_YEAR) yield, which moves inversely to price, was down half of a basis point at 2.037%. The benchmark note yield had been down as much as 5 basis points on the day, helping pare back a 10-basis-point rise on Wednesday.The 30-year bond (30_YEAR) yield was down 1 basis point to 3.212%, while the 5-year note (5_YEAR) yield was down slightly at 0.902%.U.S. equities opened lower and hit triple-digit losses before cutting back to narrow losses late Thursday morning.U.S. data released on Thursday continued to paint a picture of a slowly improving economy. Weekly-jobless-claims data Thursday showed the number of people applying for unemployment benefits fell 23,000 to 340,000, beating the estimates of Wall Street economists surveyed by MarketWatch. That cut into the Treasury rally, but still left government debt prices higher on the day.New home sales a...

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