Treasury yields higher after big decline in jobless claims


Bond prices add to losses following the strong jobless claims print, with 323K the lowest number since November. The 10-year Treasury yield gains three basis points to 2.74%, and TLT slips 0.7%. TBT +1.4%.

The February jobs report is due at 8:30 ET tomorrow.

ETFs: TBT, TLT, TMV, TBF, EDV, TTT, TMF, SBND, ZROZ, TLH, DLBS, VGLT, UBT, TLO, LBND, TENZ, TYBS, DLBL

A check of Eurodollar futures shows traders are baking in the first Fed rate hike in Q1 of 2015.

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Comments (9)
  • Moon Kil Woong
    , contributor
    Comments (13557) | Send Message
     
    Jobless claims are a distraction. The change is once again insignificant and is more strongly correlated to the denial of benefit extensions than economic recovery. That said, what is pumping this recent bull is not expected to stop until it hits a wall.
    6 Mar 2014, 10:20 AM Reply Like
  • Petrarch
    , contributor
    Comments (1169) | Send Message
     
    a distraction eh?

     

    just keep on believing that
    I am sure it is working for you

     

    P
    6 Mar 2014, 06:25 PM Reply Like
  • Moon Kil Woong
    , contributor
    Comments (13557) | Send Message
     
    In analyzing reports you must look at cause and effect not just a simple graph devoid of logic or reason. Clearly the end of the jobless extensions are having a positive effect on the claim numbers even though this doesn't imply less joblessness. In fact, employment is dropping according to even rosy government reports.
    7 Mar 2014, 01:04 PM Reply Like
  • bbro
    , contributor
    Comments (11235) | Send Message
     
    "Jobless claims are a distraction.".... ignore it at your own peril....as Bill Gross says that the weekly jobless claims are the one statistical update he’d welcome if stranded on a desert island.
    6 Mar 2014, 11:40 AM Reply Like
  • th3decider
    , contributor
    Comments (481) | Send Message
     
    That's because he mainly only manages bonds which are very sensitive to Fed pumping.
    6 Mar 2014, 12:39 PM Reply Like
  • bbro
    , contributor
    Comments (11235) | Send Message
     
    Well...in that case please go right ahead and ignore the data....
    6 Mar 2014, 01:07 PM Reply Like
  • jakoba
    , contributor
    Comments (345) | Send Message
     
    I wish we focused more on employment rates rather than unemployment rates. According to oecd.org, as of end of Q3 2013, employment rate was 67.4% in United states, meaning 32.6% of the working age population, is not employed. It is more or less unchanged the past years. http://bit.ly/1f1TmlC

     

    In Canada the employment rate is 72.4%, so 27.6% of the working age population, is not employed.

     

    Officially, however, unemployment rate is 6.7% in US and 7.0% in Canada.
    6 Mar 2014, 12:06 PM Reply Like
  • notta lackey
    , contributor
    Comments (131) | Send Message
     
    Your wish will not be granted. If the politicians let you focus on this, you would vote them all out. That ain' gonna happen.
    7 Mar 2014, 11:34 PM Reply Like
  • Darren McCammon
    , contributor
    Comments (4320) | Send Message
     
    The lower the employment rate, the less people have jobs. The less people who have jobs, the less likely they are to lose them.
    6 Mar 2014, 01:28 PM Reply Like
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