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Post-Data React, Small Continuing Claims Pick-Up

US TSYS

Tsys remain weaker on two-way trade following latest round of data, small pick-up in continuing claims to 1.485M (1.450M est), weekly claims little softer at 218k vs. 220k est. Unit Labor Costs lower than expected at 3.5% vs. 4.0% est.
Yield curves back to flattening:

  • 3M10Y +9.051, 5.005 (L: -6.163 / H: 5.331)
  • 2Y10Y -2.244, -54.578 (L: -55.429 / H: -51.271)
  • 2Y30Y -4.865, -53.297 (L: -53.33 / H: -47.104)
  • 5Y30Y -4.553, -21.677 (L: -22.032 / H: -15.54)

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