MW: Treasurys stay down after retail sales, jobs data
By Deborah Levine
NEW YORK (MarketWatch) -- Treasurys reversed a decline early Thursday, though yields remained up on the day, after a government report said retail sales unexpectedly fell 0.1% in July, despite a boost from the so-called cash-for-clunkers program. Excluding autos, sales fell 0.6% last month. Ten-year note yields (UST10Y 3.72, +0.05, +1.31%) slid 1 basis point to 3.71%, after trading at 1.76% before the data. Economists surveyed by MarketWatch expected overall sales to rise 0.8%, while excluding auto sales, they predicted a 0.1% increase. A separate Labor Department report said initial jobless claims unexpectedly increased 4,000 to 558,000 in the last week. The market remained under pressure ahead of the Treasury's sale of a record $15 billion in 30-year bonds (UST30Y 4.54, +0.10, +2.34%) later in the session.
