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Post-CPI, Weekly Claims React

  • Fast trade as Tsys gapped higher in the seconds PRIOR to the data release (TYZ3 108-16 high) reverse support/extend lows post-data (TYZ3 107-26, -4, yield 4.5975%) following slightly higher lower than expected CPI MoM (0.4% vs. 0.3% est, 0.6% prior), YoY (3.7% vs. 3.6% est, 3.7% prior).
  • Initial Jobless Claims (209k vs. 210k est, 207k prior), higher than expected Continuing Claims (1.702M vs. 1.676M, 1.664M prior)
  • Curves mixed: 3M10Y -91.844 (+3.183), 2Y10Y -46.883 (-4.074).

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