Shutdown and CA computers behind jobless claims surge

|By:, SA News Editor

Still working through a backlog caused by a switch in computer systems, California was responsible for about half of the 66K surge in initial jobless claims last week. The dismissal of non-federal employees accounted for another 15K, according to the Labor Department.

Treasury prices quickly popped on the headline jump, but have since returned to be nicely down on the session. The 10-year Treasury yield is up 4 bps to 2.7%.

TLT -0.5%, TBT +0.9% premarket.

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