10-year Treasury yield nears 2.9% after data


Initial jobless claims fell 23K to 298K last week, but the Labor Dept. says it's difficult to adjust claims for the holidays.

The big revision higher in Q3 GDP growth - to 3.6% from 3.1% - comes as private inventory growth's contribution is revised to 1.68% from 0.83% previously estimated, and from 0.41% in Q2. Real final sales (GDP less change in private inventories) grew 1.9% in Q3 vs. 2.1% in Q2.

Real personal consumption expenditures +1.4% vs. 1.8% in Q2. Real nonresidential fixed investment +3.5% vs. 4.7%. Real federal government expenditures of -1.4% vs. -1.6%. Price index +1.8% vs. 0.2% in Q2.

The 10-year Treasury yield is higher by 3 bps to 2.87%. TLT -0.3%, TBT +0.7%.

Stock index futures remain near flat.

Tomorrow is the November nonfarm payroll report.

Treasury ETFs: TBT, TLT, TMV, SHY, IEF, TBF, PST, EDV, TTT, TMF, TLH, ZROZ, SBND, IEI, DLBS, TYO, DTYS, VGLT, UST, BIL, SHV, UBT, TBX, TLO, VGSH, VGIT, GSY, LBND, DTYL, SCHR, TYD, SCHO, ITE, TENZ, TYBS, TUZ, FIVZ, DTUL, SST, DTUS, TBZ, DFVL, DLBL, DFVS, TYNS

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Comments (8)
  • Chris DeMuth Jr.
    , contributor
    Comments (11124) | Send Message
     
    TMF ->38% YTD.
    5 Dec 2013, 08:49 AM Reply Like
  • Damian McGlynn
    , contributor
    Comment (1) | Send Message
     
    No tapering before Dec 2015 no matter what.
    5 Dec 2013, 09:05 AM Reply Like
  • bbro
    , contributor
    Comments (11227) | Send Message
     
    3 month libor priced at 2.1% out in December 2016....
    5 Dec 2013, 09:43 AM Reply Like
  • bbro
    , contributor
    Comments (11227) | Send Message
     
    Cycle has another 4 years to run...
    5 Dec 2013, 09:54 AM Reply Like
  • Nicholas Pardini
    , contributor
    Comments (404) | Send Message
     
    Tightening likely to happen based on history of Fed politics.
    http://bit.ly/18obf7m
    5 Dec 2013, 01:27 PM Reply Like
  • omarbradley
    , contributor
    Comments (966) | Send Message
     
    interesting comment. the entire "upside" in the GDP print appears to be based on an "inflation adjustment" actually. Hardly good news if true (for the record i am not an economist but sure know a few good ones)...not that an inventory build isn't welcome...although that can be seen as a precursur to a recession as well. again...no Syria, no ACA...so far more muff than muffin.
    5 Dec 2013, 10:00 PM Reply Like
  • Patent News
    , contributor
    Comments (1475) | Send Message
     
    if you own stocks like NLY get hedged.

     

    should be a nice reward for NLY longs from both ends.

     

    if the jobs numbers are better than expected, market can drop a bit on open due to tapering chances becoming much greater.
    6 Dec 2013, 12:12 AM Reply Like
  • Patent News
    , contributor
    Comments (1475) | Send Message
     
    goldman in the short term may be right about mreits. doubting the market can stay up on friday until there's more clarity from fed that they won't taper.
    6 Dec 2013, 12:14 AM Reply Like
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