The UST10-Year yield is at 2.486% this morning after closing at 2.454% yesterday.
This morning, U.S. Treasury yields inched higher for a third consecutive day as the likelihood of an upcoming rate hike in March grew even higher after the Federal Reserve released the Beige Book yesterday which indicated that the economy was growing at a modest to moderate pace. Fed Governor Lael Brainard followed the release by stating that “it will likely be appropriate soon to remove additional accommodation”.
In economic releases, U.S. Department of Labor released Initial Jobless Claims data for the week ended Feb 25th indicating a 19K drop in new claims to 223K; marking the 104th consecutive week of claims below 300K. The 4-week moving average also dropped to 234,250 from 240,500, the lowest level in nearly 44 years. Claims for those continuing to receive benefits increased slightly to 2066K for the week ended Feb 18th from 2063K the week prior. Consumer Comfort jumped 1.80 to 49.80, the highest reading since March 2007. The growth comes as more Americans are optimistic about their personal finances, with the gauge rising from 56.40 to 59.00.
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This morning, U.S. Treasury yields inched higher for a third consecutive day as the likelihood of an upcoming rate hike in March grew even higher after the Federal Reserve released the Beige Book yesterday which indicated that the economy was growing at a modest to moderate pace. Fed Governor Lael Brainard followed the release by stating that “it will likely be appropriate soon to remove additional accommodation”.
In economic releases, U.S. Department of Labor released Initial Jobless Claims data for the week ended Feb 25th indicating a 19K drop in new claims to 223K; marking the 104th consecutive week of claims below 300K. The 4-week moving average also dropped to 234,250 from 240,500, the lowest level in nearly 44 years. Claims for those continuing to receive benefits increased slightly to 2066K for the week ended Feb 18th from 2063K the week prior. Consumer Comfort jumped 1.80 to 49.80, the highest reading since March 2007. The growth comes as more Americans are optimistic about their personal finances, with the gauge rising from 56.40 to 59.00.
The curve has bear-steepened with the UST 10-Year 3.2 bps up from prior closing.