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US TSYS
  • Tsy futures extended highs after higher than expected Initial Jobless Claims (242k vs. 212k est) and Continuing Claims (1.898M vs. 1.839M est, prior down-revised slightly to 1.828M from 1.833M).
  • Meanwhile Nonfarm Productivity higher than expected at 3.2% vs 2.5% est (prior down-revised to 4.9% from 5.2%) while Unit Labor Costs came in at 0.5% vs. 1.2% est (prior revised to -1.1% from -1.2%).
  • Mar'24 10Y futures currently trading +11.5 at 112-22 vs. 112-23 high -- just above yesterday's high and initial resistance of 112-20, focus on 112-26+ (High Jan 12).
  • 10Y yield currently 3.9028% (-.0096). Curves mildly steeper: 2s10s +.499 at -29.345.

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