Bond Market Update

Data Recon

• For the week ending July 4, initial jobless claims decreased by 2,000 to 215,000 (Briefing.com consensus: 220,000), which is the same level they were at in December 2025. For the week ending June 27, continuing jobless claims increased by 8,000 to 1.814 million, which is roughly where they stood in March.
  • The key takeaway from the report is the same key takeaway as other recent reports: the low level of initial jobless claims continues to reinforce the understanding that layoff activity remains quite low overall.
• Yield Check:
  • 2-yr: -1 bp to 4.19%
  • 3-yr: -1 bp to 4.23%
  • 5-yr: -1 bp to 4.30%
  • 10-yr: UNCH at 4.57%
  • 30-yr: +1 bp to 5.08%