Jobless claims data continues to defy a majority of other labor market metrics in showing a remarkable lack of any signs of softening.  In fact, the 4 week average is now at a 13 week low.  While this isn't the most highly consequential econ data, it's one of this week's only actionable reports. As such, bonds are undergoing a small but negative reaction, adding to moderate overnight weakness.

20250724 open.png

20250724 open2.png

10YEARTREAS_7_24_2025_12_46 pm.png