Free Trial

What To Watch: JOLTS & Factory Orders Ahead

US TSYS
  • Front-end Treasuries have seen a small rally in recent trading but it doesn’t change the stabilization over the past almost two hours with 2YY having pared a majority of early gains (-1.4bps on the day).
  • Earlier, more pertinent earnings releases saw beats from Pfizer (revenue $18.288B vs 16.6B est, adj EPS $1.23 vs 97c est) and Uber (revenue $8.82B vs 8.72B est).
  • Ahead, JOLTS job openings are expected to show a further decline to 9.736M in March after Feb’s surprisingly large drop from 10.56M to 9.93M confounded alternate indicators after months of upside surprises.
  • However, a consensus print would leave the ratio to unemployed unchanged at 1.67 as there has been a sizeable decline in unemployment as well. This would remain down from the 1.96 of Dec but still historically elevated vs the 1.2 averaged in 2019.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.