Treasuriesare lower from yesterday at the opening of today’s session. The yield on the UST10-Year is currently at 2.909% after closing at 2.903% during the prior session.
Treasuries inched lower yesterday across the curve following the higher-than-estimated inflation reports. The UST10-Yearyield peaked at 2.942%; its highest mark since early 2014.
Initial Jobless Claims for the week ended February 10 reached 230k, exceeding expectations of 228k and up from its previous 221k; while Continuing Claims for the week ended February 3 reached 1942k, also exceeding survey of 1925k and up from previous 1927k revised. Further, month-over-monthPPI Final Demand for January rose 0.40%, matching market survey and increasing from its previous -0.10% print; while year-over-yearPPI Final Demand for January rose 2.70%, exceeding market survey of 2.40% and increasing from its previous 2.60% print. Finally, Empire Manufacturing for February registered 13.10, below estimates of 18.00 and decreasing from prior 17.70 mark; month-over-month Industrial Production for January registered a -0.10% change, versus estimates of 0.20% and prior mark of 0.40% revised; and Capacity Utilization for January reached 77.50%, falling short of 78.00% estimated and slightly down from its previous 77.70% revised.
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Treasuries inched lower yesterday across the curve following the higher-than-estimated inflation reports. The UST 10-Year yield peaked at 2.942%; its highest mark since early 2014.
Initial Jobless Claims for the week ended February 10 reached 230k, exceeding expectations of 228k and up from its previous 221k; while Continuing Claims for the week ended February 3 reached 1942k, also exceeding survey of 1925k and up from previous 1927k revised. Further, month-over-month PPI Final Demand for January rose 0.40%, matching market survey and increasing from its previous -0.10% print; while year-over-year PPI Final Demand for January rose 2.70%, exceeding market survey of 2.40% and increasing from its previous 2.60% print. Finally, Empire Manufacturing for February registered 13.10, below estimates of 18.00 and decreasing from prior 17.70 mark; month-over-month Industrial Production for January registered a -0.10% change, versus estimates of 0.20% and prior mark of 0.40% revised; and Capacity Utilization for January reached 77.50%, falling short of 78.00% estimated and slightly down from its previous 77.70% revised.
The curve has bear-flattened with the UST 10-Year yield up 0.6 bp from prior closing.