- Bond yields have been headed higher for awhile - whether it be good or bad economic news - but they have an excuse to continue doing so after the Chicago PMI bounces back into expansion territory, hitting 52.3 in April from 46.3 in March.
- It's no surprise to economist Philip Uglow, citing the end of winter and west coast port strikes.
- Earlier, initial jobless claims fell to the lowest level in 15 years.
- The 10-year Treasury yield is up six basis points to 2.10%. TLT -0.6%, TBT +1.2%
- For those keeping an eye overseas, the German 10-year Bund yield is up another seven bps to 0.36% -- roughly a triple in yield this week.
- ETFs: TBT, TLT, TMV, TBF, EDV, TMF, EU, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, PLW, GOVT, BUNL, TENZ, LBND, BUNT, GGOV, DLBL, TYBS, TAPR