Treasury prices cut losses after jobless claims


The unexpectedly large jump in jobless claims takes a little pressure off of bond prices and allows a small uptick in stock index futures, the S&P 500 now +0.5%.

Last week's 320K print was revised higher to 323K.

The 4-week moving average slips 2,250 to 330,500.

TLT flat premarket, with the 10-year yield at 2.90%.

Long-term Treasury ETFs: TLH, TLT, IEF, DTYL, DLBL, ILTB, TENZ, ITE, TLO, EDV, VGIT, VGLT, TMF, TYD, LBND, UBT, UST, TMV, TYO, DSTJ, DSXJ, SBND, PST, TBT, DTYS, DLBS, TBF, TTT, TYNS, TYBS, TBX.

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Comments (1)
  • Marco Mazzocco, CFA
    , contributor
    Comments (193) | Send Message
     
    I really thought we would get a rally after the Fed minutes yesterday. I think it just shows the propensity of the bond market to move lower now. A disorderly move down is never a good thing (except for the shorts of which I am one), so I would like to see a breather here and for the bond market to regroup. Overnight bond futures were looking very bad so it's good to see some retracement here this morning. I think bond holders should be taking a very good look at the potential damage that lies ahead of them because it is coming. Rates wont make a straight line up, but they will get there. 6% 30yr is where the long end normalizes unless the world economy really picks up, then it goes higher.
    22 Aug 2013, 08:52 AM Reply Like
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