Bond Market Update

Data Recon

• Initial jobless claims for the week ending April 18 increased by 6,000 to 214,000 (Briefing.com consensus: 212,000). Continuing jobless claims for the week ending April 11 increased by 12,000 to 1.821 million.
  • The key takeaway from the report is that there is nothing in the level of initial jobless claims—a leading indicator—that suggests the labor market is in a dire state.
• Yield Check:
  • 2-yr: +1 bp to 3.80%
  • 3-yr: UNCH at 3.81%
  • 5-yr: UNCH at 3.92%
  • 10-yr: +1 bp to 4.30%
  • 30-yr: UNCH at 4.90%