Bond Market Update

Data Recon

• Initial jobless claims for the week ending August 15 decreased by 6,000 to 206,000 (Briefing.com consensus 206,000) from last week's revised total of 212,000 (revised from 209,000). Continuing jobless claims for the week ending August 8 increased by 18,000 to 1.799 million from last week's revised total of 1.781 million (from 1.777 million).
  • The key takeaway from the report is that even with the increase in four-week moving averages for initial and continuing claims, overall levels are not setting off alarm bells concerning increased layoff activity.
• Yield Check:
  • 2-yr: UNCH at 4.18%
  • 3-yr: +1 bp to 4.26%
  • 5-yr: +3 bps to 4.38%
  • 10-yr: +4 bps to 4.69%
  • 30-yr: +4 bps to 5.24%