We don't have too much data today ahead of tomorrow's Unemployment report and Nonfarm Payrolls. Initial Jobless Claims, for the week ending September 27th, fell to 287K vs. 293K prior and Continuing Claims fell to 2398K vs. 2439K prior. Factory Orders are expected to decline -9.5% following the prior week’s +10.5% advance. Treasuriessold-off this morning, giving back some of the biggest gains in the past 8 months, following another data release that points to continued improvement in the labor market. The curve has bear steepened with 2s10s up +1.6 bps.
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