Bond Market Update

Data Recon

• Initial jobless claims for the week ending December 20 decreased by 10,000 to 214,000 (Briefing.com consensus: 226,000), while continuing jobless claims for the week ending December 13 increased by 38,000 to 1.923 million.
  • The key takeaway from the report is the redundancy of the messaging that low initial claims and high continuing claims connote a low firing-low hiring environment that is a speedbump for growth prospects.
• Yield Check:
  • 2-yr: UNCH at 3.53%
  • 3-yr: UNCH at 3.58%
  • 5-yr: UNCH at 3.74%
  • 10-yr: -1 bp to 4.16%
  • 30-yr: -1 bp to 4.82%