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What to Watch: Bond Yields Breach 4%

US TSYS

Continued selling across the curve sees 30YY just top 4%: 4.0010% high, 3.9982% last +.0450, highest since Nov'22. 10YY extended 4 month highs earlier as well, 4.0458% high, 4.0379 last. 2YY tapped 4.9352% - new 16 year high earlier, 4.9080% last. Heavier volumes in lead-up to NY open. TYM3 over 560k so far.

  • US Data out of the way early, all at 0830ET: Initial Jobless Claims (192k, 195k); Continuing Claims (1.654M, 1.669M); Nonfarm Productivity (3.0%, 2.5%) and Unit Labor Costs (1.1%, 1.6%)
  • Tsy auction wrap up the week w/ US Tsy $75B 4W, $60B 8W bills at 1130ET
  • Fed speaker scheduled later: Fed Gov Waller eco-outlook, text, moderated virtual event at 1400ET
  • MN Fed Kashkari on race, justice and economy w/ MN Supreme Court Justice Alan Page at 1830ET, Livestreamed

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