Treasuries are higher across the curve this morning from yesterday’s close. The UST10-Year yield is currently at 2.767% after closing at 2.782% prior.
This morning we received the Initial Jobless Claims for the week of March 24th which fell 12k to 215k from a downwardly revised 227k prior. Continuing Claims for the week of March 17th rose 35k to 1871k from an upwardly revised 1836k prior. Further, we also received the Personal Income for the month of February, which came in line with expectations at 0.40%; Personal Spending also came in line with expectations which rose 0.20% in February.
The February PCE Deflator rose 0.20% MoM following a 0.40% rise in January, accelerating the PCE DeflatorYoY to 1.80% from 1.70% in January. Also released this morning, the February Core PCE inflation rose 0.20% MoM following a 0.30% increase in January, bringing the PCE CoreYoY up to 1.60% from 1.50% prior. Lastly, we received the Chicago Purchasing Manager for the month of March which came in below expectations at 57.40 versus 62.00 per consensus.
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This morning we received the Initial Jobless Claims for the week of March 24th which fell 12k to 215k from a downwardly revised 227k prior. Continuing Claims for the week of March 17th rose 35k to 1871k from an upwardly revised 1836k prior. Further, we also received the Personal Income for the month of February, which came in line with expectations at 0.40%; Personal Spending also came in line with expectations which rose 0.20% in February.
The February PCE Deflator rose 0.20% MoM following a 0.40% rise in January, accelerating the PCE Deflator YoY to 1.80% from 1.70% in January. Also released this morning, the February Core PCE inflation rose 0.20% MoM following a 0.30% increase in January, bringing the PCE Core YoY up to 1.60% from 1.50% prior. Lastly, we received the Chicago Purchasing Manager for the month of March which came in below expectations at 57.40 versus 62.00 per consensus.
The curve has bull-flattened with the UST 10-Year yield down 1.5 bps from prior closing.