July 21, 2022 12:39 GMT
Tsys still weaker but off lows after weekly jobless claims come out higher than expected at 251k vs. 240k, continuing claims 1.384M vs. 1.340M est, sharp miss on Philly Fed Mfg index at -12.3 vs. 0.8 est.
- Equities climbing, ESU2 +6.0 at 3968.5, data miss deemed positive in relation to watering down hawkish Fed expectations (only slightly). Tsy yield curves steepening off lows, 2s10s +1.632 at -18.854.
- Focus turns to ECB Pres Lagarde's press conf at 0845ET.