Weekly initial jobless claims fell by 14,000 to 289,000 last week, below the 304,000 level that economists surveyed by Bloomberg had expected, as the prior week's figure was upwardly revised by 1,000 to 303,000. Moreover, the four-week moving average, considered a smoother look at the trend in claims, declined by 4,000 to 293,500, while continuing claims decreased by 24,000 to 2,518,000, north of the forecast of economists, which called for a level of 2,512,000.
Treasuries are higher in late-morning action despite the employment data, with the yield on the 2-year note nearly unchanged at 0.45%, while the yields on the 10-year note and the 30-year bond are declining 2 basis points to 2.45% and 3.25%, respectively.
In the final hour of trading, the U.S. economic calendar will yield the release ofconsumer credit, forecasted to show consumer borrowing was $18.7 billion during June, down from the $19.6 billion posted the month prior.
Source: Schwab
Treasuries are higher in late-morning action despite the employment data, with the yield on the 2-year note nearly unchanged at 0.45%, while the yields on the 10-year note and the 30-year bond are declining 2 basis points to 2.45% and 3.25%, respectively.
In the final hour of trading, the U.S. economic calendar will yield the release ofconsumer credit, forecasted to show consumer borrowing was $18.7 billion during June, down from the $19.6 billion posted the month prior.
Source: Schwab
