Treasuriesare moderately lower across the curve this morning from yesterday's close. The UST10-Year yield is currently at 2.337% after closing at 2.324% prior.
In economic reports, we received the Initial Jobless Claims for the week ending on September 30th which fell 12k to 260k from 272k prior. Continuing Claims for the week ending on September 23rd rose 2k to 1938k from an upwardly revised 1936k the week prior. Although Hurricanes Harvey and Irma had a lesser impact on the most recent claims data, they are still expected to impact tomorrow'spayroll data for September.
We also received the August Factory Orders which rose 1.20% following a 3.30% drop in July. Factory Orders excluding transportation rose 0.40% following a 0.50% rise prior. Durable Goods Orders rose above expectations at 2.00% versus a 1.70% increase per consensus. Durables excluding transportation rose 0.50% following a 0.20% increase in July. Lastly, we received the Cap Goods Orders Nondef Ex Air which rose 1.10% after rising 0.90% prior, and the Cap Goods Ship Nondef Ex Air which also rose 1.10% after rising 0.70% prior.
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In economic reports, we received the Initial Jobless Claims for the week ending on September 30th which fell 12k to 260k from 272k prior. Continuing Claims for the week ending on September 23rd rose 2k to 1938k from an upwardly revised 1936k the week prior. Although Hurricanes Harvey and Irma had a lesser impact on the most recent claims data, they are still expected to impact tomorrow's payroll data for September.
We also received the August Factory Orders which rose 1.20% following a 3.30% drop in July. Factory Orders excluding transportation rose 0.40% following a 0.50% rise prior. Durable Goods Orders rose above expectations at 2.00% versus a 1.70% increase per consensus. Durables excluding transportation rose 0.50% following a 0.20% increase in July. Lastly, we received the Cap Goods Orders Nondef Ex Air which rose 1.10% after rising 0.90% prior, and the Cap Goods Ship Nondef Ex Air which also rose 1.10% after rising 0.70% prior.
The curve has bear-steepened with the UST 10-Year up 1.3 bps from prior closing.