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Market Commentary

Market Commentary

December 04, 2014
10-YEAR NOTES   99-27 (+05)
FN 3.5% COUPON   103-29(+02.5)
SUPPORT   2.42%
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We have a light calendar today ahead of tomorrow’s Nonfarm Payrolls and Unemployment report. Initial Jobless Claims fell to 297K vs. 314K prior revised (consensus 295K) for the week ending November 29th, moving the 4-week average to 299K. Continuing Claims rose to 2362K vs. 2323K prior revised (consensus 2318K) for the week ending November 22nd. Treasuries are on a slight rally following the disappointing claims data and the curve has bull flattened with 2s10s down -0.9 bps.

This Week's Events:

12/04 Initial Jobless Claims 05:30 November 29 295K 297K 313K 314K
12/04 Continuing Claims 05:30 November 22 2318K 2362K 2316K 2323K
12/05 Nonfarm Payrolls 05:30 November 230K - 214K -
12/05 Unemployment Rate 05:30 November 5.8% - 5.8% -



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