Bond Market Update

Data Recon

• Initial jobless claims for the week ending January 31 increased by 22,000 to 231,000 (Briefing.com consensus: 210,000). Continuing jobless claims for the week ending January 24 increased by 25,000 to 1.844 million.
  • The key takeaway from the report was the jump in initial claims, which hit their highest level since early December. That created some headline surprise, but to be fair, the absolute level isn't that bad.
• Yield Check:
  • 2-yr: -6 bps to 3.50%
  • 3-yr: -6 bps to 3.58%
  • 5-yr: -5 bps to 3.78%
  • 10-yr: -4 bps to 4.24%
  • 30-yr: -3 bps to 4.89%