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Bond Markets Weaker Overnight; Improving Slightly After Jobless Claims Data
Posted to: Micro News
Thursday, May 22, 2014 8:39 AM

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Bond markets began the overnight session moving into weaker territory after stronger-than-expected manufacturing data in Asia.  European markets pulled in the opposite direction, helping Treasuries make it back into yesterday's range by 8am. 

10yr yields were near 2.55 before this morning's Jobless Claims data and Fannie 3.5s were 5 ticks weaker on the day at 102-13.  After the data, 10's fell under 2.54 and Fannie 3.5s moved up 3 ticks to 102-16

Here's a run-down of the data:

  • Claims 326k vs 310k forecast
  • Continued Claims 2.653 mln vs 2.66 mln forecast

This instance of the Jobless Claims data carries a bit more weight than normal because it covers the same week used to determine the upcoming Nonfarm payrolls release (2 weeks from tomorrow).

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