Treasurys strengthen ahead of 30-year auction

By Ben Eisen
NEW YORK (MarketWatch) -- Treasury prices rose Thursday morning, sending yields lower ahead of a $16 billion auction of 30-year30_YEAR -0.30% bonds. The firmer pricing in Treasurys went alongside relative strengthening of German bundsBX:TMBMKDE-10Y -1.07% against other European bond markets. The 30-year bond yield dropped 1 basis point to 2.965% while the 10-year note 10_YEAR +1.92% dropped 2 basis points to 1.786%, and the 5-year note dropped 1.5 basis points to 0.728%. U.S. initial weekly jobless claims are out at 8:30 a.m., a week after hitting their lowest levels since January 2008. 

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