Treasury yields and the dollar climbed on Thursday after a batch of data on US claims for unemployment benefits underscored the strength of the jobs market.

The number of Americans who applied for first-time jobless benefits last week slid to 237,000 from 245,00 the previous week, according to the labour department. Economists had expected a slimmer fall to 241,000.

Also on an upbeat front, two separate regional manufacturing reports came in better than forecast. The Philadelphia Federal Reserve’s gauge of factory conditions in the mid-Atlantic region fell to 27.6 from 38.8, but was better than the 24.9 forecast. Meanwhile, a similar metric from the New York Fed on conditions in the state surged to 19.8 from -1, far larger than the increase to 5 that was expected.

For both metrics, readings above 0 point to expansion, while those below indicate contraction.

The ten-year Treasury yield was up 0.03 percentage points on the heels of the data to 2.157 per cent. The buck extended its gains on the yen to 0.68 per cent.

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