Treasuries are very slightly higher across the curve this morning from yesterday’s close. The UST10-Year yield is currently at 2.334% after closing at 2.335% prior.
Yesterday treasuries rallied midday as the March FOMC Minutes revealed that most participants believe a change in reinvestment policy will occur later this year. This morning we received the Initial Jobless Claims for the week of April 1st, falling 25k to 234k from an upwardly revised 259k last week; the lowest level since the week of February 25th, illustrating the strength of the U.S. labor market. Continuing Claims for the week of March 25th came in at 2028k versus 2030k consensus.
Tomorrow we will receive the employment report for the month of March. Investors believe that the jobs report could be pivotal in either confirming or denying NY Fed President Dudley’s “little pause” statement regarding rate hikes this year during his Fed Speak earlier this week.
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Yesterday treasuries rallied midday as the March FOMC Minutes revealed that most participants believe a change in reinvestment policy will occur later this year. This morning we received the Initial Jobless Claims for the week of April 1st, falling 25k to 234k from an upwardly revised 259k last week; the lowest level since the week of February 25th, illustrating the strength of the U.S. labor market. Continuing Claims for the week of March 25th came in at 2028k versus 2030k consensus.
Tomorrow we will receive the employment report for the month of March. Investors believe that the jobs report could be pivotal in either confirming or denying NY Fed President Dudley’s “little pause” statement regarding rate hikes this year during his Fed Speak earlier this week.
The curve has bull-flattened with the UST 10-Year down 0.10 bp from prior closing.