NEW YORK (MarketWatch) - Treasurys rose Wednesday, pushing yield down, after reports on joblessness and consumer spending pointed to further weakness in the economy. Two-year note yields fell 6 basis points to 0.85%. Initial claims for unemployment benefits rose 30,000 to a seasonally adjusted 586,000 in the week ended Dec. 20, the highest since 1982. A separate report said consumer spending declined 0.6% in November, though economists surveyed by MarketWatch expected a 0.7% slip. Another report said durable goods orders fell 1% last month, less than the 3% drop forecast. A measure of consumer inflation excluding energy and food prices was flat in November, as predicted. Bond trading is expected to end at 2 p.m. Eastern and remain shuttered on Thursday for Christmas.
