Bond Market Update

Data Recon

• Initial jobless claims for the week ending July 19 decreased by 4,000 to a lowly 217,000 (Briefing.com consensus: 225,000). Continuing jobless claims for the week ending July 12 increased by 4,000 to 1.955 million.
  • The key takeaway from the report is still the same. The low level of initial jobless claims connotes a relatively solid labor market; however, the elevated level of continuing jobless claims connotes some added difficulty in finding a new job in the event one gets laid off by their employer.
• Yield Check:
  • 2-yr: +4 bps to 3.92%
  • 3-yr: +5 bps to 3.88%
  • 5-yr: +5 bps to 3.98%
  • 10-yr: +4 bps to 4.43%
  • 30-yr: +4 bps to 4.99%