Treasuriesare lower across the curve this morning from yesterday’s close. The UST10-Year yield is currently at 2.341% after closing at 2.335% during the prior session.
Initial Jobless Claims released for the week ended November 4 reflected 239k, exceeding both market survey of 232k and its prior mark of 229k. Meanwhile, Continuing Jobless Claims for the week ended October 28 reflected 1,901k claims, also above the survey of 1,885k and it’s prior mark of 1,884k. Despite higher than expected marks, current levels remain along historical lows in several decades. Further, over the last four weeks, initial claims have averaged 231k, below the 256k average for the same period last year; and continuing claims are also well below last year’s 2,050k for the period. Wholesale Inventories remained unchanged for September with results of 0.30% in line with its prior mark and the 0.30% market survey. The economic calendar for the week wraps up tomorrow with the University of Michigan Consumer Sentiment, 1-Year Inflation and 5-10 Year Inflation reports.
In Washington, the House Ways and Means Committee enters its final day of crafting its tax-reform proposal as they anticipate a vote on the bill early next week. The Senate will also prepare to release their own proposal today.
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Initial Jobless Claims released for the week ended November 4 reflected 239k, exceeding both market survey of 232k and its prior mark of 229k. Meanwhile, Continuing Jobless Claims for the week ended October 28 reflected 1,901k claims, also above the survey of 1,885k and it’s prior mark of 1,884k. Despite higher than expected marks, current levels remain along historical lows in several decades. Further, over the last four weeks, initial claims have averaged 231k, below the 256k average for the same period last year; and continuing claims are also well below last year’s 2,050k for the period. Wholesale Inventories remained unchanged for September with results of 0.30% in line with its prior mark and the 0.30% market survey. The economic calendar for the week wraps up tomorrow with the University of Michigan Consumer Sentiment, 1-Year Inflation and 5-10 Year Inflation reports.
In Washington, the House Ways and Means Committee enters its final day of crafting its tax-reform proposal as they anticipate a vote on the bill early next week. The Senate will also prepare to release their own proposal today.
The curve has bear-flattened with the UST 10-Year yield up 0.6 bp from prior closing.