Treasuries are higher than yesterday at the opening of today’s session. The yield on the UST10-Year is currently at 2.993% after closing at 3.027% during the prior session.
The 10-YearU.S. Treasuryregained some pricing momentum at the opening of trading today after closing above 3.00% for a second session. Pricing support was received from large blocks traded in the European markets earlier in the day ahead of a European Central Bank decision on interest rates announced this morning.
Initial Jobless Claims for the week ended on April 21 reached 209k, below expected 230k and down from prior 233k revised; while Continuing Claims for the week ended on April 14 reached 1837k, below expected 1850k and down from prior 1866k revised. Further, preliminary month-over-monthWholesale Inventories for March rose 0.50%, below survey of 0.70% and down from 1.00% prior; while month-over-month Retail Inventories for March came in at -0.40% versus a 0.40% prior. Preliminary Durable Goods Orders for March came in at 2.60%, above 1.60% expected but down from 3.50% prior revised. Finally, the Kansas City Fed Manufacturing Index rose to 26 during April, exceeding both survey and prior mark of 17; while the Bloomberg Consumer Comfort Index scored 57.50 during the week ended on April 22 versus a 58.10 during the week before.
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The 10-Year U.S. Treasury regained some pricing momentum at the opening of trading today after closing above 3.00% for a second session. Pricing support was received from large blocks traded in the European markets earlier in the day ahead of a European Central Bank decision on interest rates announced this morning.
Initial Jobless Claims for the week ended on April 21 reached 209k, below expected 230k and down from prior 233k revised; while Continuing Claims for the week ended on April 14 reached 1837k, below expected 1850k and down from prior 1866k revised. Further, preliminary month-over-month Wholesale Inventories for March rose 0.50%, below survey of 0.70% and down from 1.00% prior; while month-over-month Retail Inventories for March came in at -0.40% versus a 0.40% prior. Preliminary Durable Goods Orders for March came in at 2.60%, above 1.60% expected but down from 3.50% prior revised. Finally, the Kansas City Fed Manufacturing Index rose to 26 during April, exceeding both survey and prior mark of 17; while the Bloomberg Consumer Comfort Index scored 57.50 during the week ended on April 22 versus a 58.10 during the week before.
Also today, the Treasury Department is scheduled to auction $29 Billion in 7-year notes at 10:00 AM (PT).
The curve has bull-flattened with the UST 10-Year yield down 3.4 bps from prior closing.