Bond Market Update

Data Recon

• Initial jobless claims for the week ending July 18 decreased by 22,000 to 187,000 (Briefing.com consensus: 214,000), which is the lowest level since September 1969. Continuing jobless claims for the week ending July 11 were down 2,000 to 1.796 million.
  • The key takeaway from the report is that the low level of initial claims is a signpost of a labor market that continues to see low firing activity, which is a good sign for continued increases in consumer spending.
• Yield Check:
  • 2-yr: +5 bps to 4.35%
  • 3-yr: +5 bps to 4.39%
  • 5-yr: +5 bps to 4.46%
  • 10-yr: +5 bps to 4.71%
  • 30-yr: +4 bps to 5.19%