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US yields drop after data suggest cooling economy, rate hike pause
Treasury yields fell on Thursday after the number of Americans filing new claims for unemployment benefits rose more than expected last week, suggesting the labor market is cooling and that the Federal Reserve could pause hiking interest rates. Initial claims for state unemployment benefits jumped 28,000 to a seasonally adjusted 261,000 for the week ended June 3, the Labor Department said. Economists polled by Reuters had forecast 235,000 claims for the latest week. Despite the surge in applications, claims remain at levels consistent with a tight labor market that for some suggest the Fed can still achieve a ... (full story)