- The rise in jobless claims to back near 400K amid spurious seasonal adjustments is of no help to Treasury prices, which continue to slide post-taper. The 10-year yield is now higher this session by 5 basis points to 2.95%.
- At the same time the FOMC tapered, it took pains to assure markets any hikes in interest rates might be pushed even further out, but Fed Funds futures are also under pressure, with the December 2015 contract lower by 10 basis points and pricing in a Fed Funds rate then more than 50 bps higher than today.
- Longer duration Treasury ETFs: TBT, TLT, TMV, IEF, TBF, PST, EDV, TTT, TMF, TLH, ZROZ, SBND, IEI, DLBS, TYO, DTYS, VGLT, UST, UBT, TBX, TLO, VGIT, GSY, DTYL, LBND, SCHR, TYD, ITE, TYBS, TENZ, FIVZ, TBZ, DFVL, DLBL, DFVS, TYNS
- Short-duration Treasury ETFs: SHY, BIL, SHV, VGSH, SCHO, DTUL, SST, TUZ, DTUS
10-year Treasury yield headed to 3%
Dec 19 2013, 09:13 ET