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Post-ULC, Claims React

US TSYS
  • Treasury futures extend gains after higher than expected Initial Jobless Claims (217k vs. 210k est, 210k prior), Continuing Claims (1.818M vs. 1.800M est, 1.790M prior) while Unit Labor Costs fall (-0.8% vs. 0.3% est, 2.2% prior), Nonfarm Productivity (4.7% vs. 4.3% est, 3.5% prior).
  • Dec'23 10Y currently trading 107-17.5 (+22) vs. 107-19.5 high. 10Y yield falls to 4.6653%. Curves remain flatter, 3M10Y -5.860 at -79.385, 2Y10Y -5.615 at -26.779.
  • Midmorning data follows at 1000ET: Factory/Durable Goods Orders, Cap Goods Orders/Ship.

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