Bond Market Update

Data Recon

• Initial jobless claims for the week ending March 15 increased by 2,000 to 223,000 (Briefing.com consensus 220,000). Continuing jobless claims for the week ending March 8 increased by 33,000 to 1.892 million.
  • The key takeaway from the report is that this period covers the week in which the survey for the employment report is conducted, so the low level of initial jobless claims will lead economists to project another relatively solid increase in nonfarm payrolls.
• Yield Check:
  • 2-yr: -5 bps to 3.93%
  • 3-yr: -6 bps to 3.90%
  • 5-yr: -7 bps to 3.96%
  • 10-yr: -7 bps to 4.18%
  • 30-yr: -7 bps to 4.49%