|10-Year: +6/32....%.... GNMAs: .... USD/JPY: 113.67.... EUR/USD: 1.1427|
-- Weekly Initial Claims (actual 214K; Briefing.com consensus 213K; prior 215K) and Continuing Claims (actual 1623K; prior 1631K)
-- FOMC leaves fed funds target range between 2.00% and 2.25%, as expected
- Initial claims for the week ending November 3 decreased by 1,000 to 214,000 (Briefing.com consensus 213,000) while continuing claims for the week ending October 27 decreased by 8,000 to 1.623 million.
- The key takeaway from the report is that it is supportive of the Federal Reserve's rate-hike bias.
- Initial claims have held below 300,000 for 192 straight weeks; meanwhile, the continuing claims level is the lowest since July 28, 1973, which is a reflection of a tight labor market that has the Federal Reserve's close attention.
- The four-week moving average for initial claims decreased by 250 to 213,750.
- The four-week moving average for continuing claims decreased by 7,500 to 1,633,250, which is the lowest since August 11, 1973.
- Yield check:
- 2-yr: +3 bps to 2.96%
- 5-yr: +1 bp to 3.07%
- 10-yr: UNCH at 3.21%
- 30-yr: -1 bp to 3.41%