U.S. government debt prices pared some losses on Thursday after a report showed factory activity in the U.S. mid-Atlantic region decelerated in February to its slowest level in a year.
The Philadelphia Federal Reserve Bank said its business activity index fell to 5.2, the lowest since February 2014, from January’s 6.3. Economists polled by Reuters had forecast an increase to 9.3, according to a Reuters poll.
Earlier, initial claims for state unemployment benefits dropped 21,000 to a seasonally adjusted 283,000 for the week ended Feb. 14, the Labor Department said on Thursday.
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