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Markets Roundup: Weekly Jobless Claims Lower Than Expected

US TSYS
  • Treasury futures holding mixed after the bell, short end to intermediates moderately weaker vs. Bonds. Treasury futures extended early lows after lower than expected Initial Jobless Claims (201k vs. 216k est) and Continuing Claims (1.862M vs. 1.885M est), Chicago Fed Nat Activity Index is lower (-0.30 vs. -0.22 est).
  • Rates rebounded briefly following February flash PMI readings were mixed though on balance weaker than expected, signaling still-solid but slowing growth and potentially softer price pressures. Meanwhile, January existing home sales were roughly as expected, at 4.00mln (SAAR), vs 3.97mln expected and a 3.1% gain vs 3.88mln in December
  • Well through technical support, Mar'24 10Y futures traded -10 at 109-10, technical support level at 109-05+ (Low Nov 28) to finish near 109-16.5 Thursday. Heavy volumes with TYH4 over 4.1M after the bell tied to surge in Mar'24/Jun'24 quarterly roll efforts. Curves bear flatten: 2s10s -3.329 at -38.281, 10Y yield +0.0080 at 4.3266%.
  • Handful of Fed speakers still ahead: At separate events scheduled at 1700ET: Fed Gov Cook speaks at a macro-finance conference, MN Fed President Kashkari panel discussion on outlook, (Q&A, livestreamed). Later this evening, Fed Gov Waller Speaks on Economic Outlook (text, Q&A and livestreamed) at 1935ET.
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