Early#Bonds: Treasury yields turned higher in response to the Initial claims at lowest level since mid-May when the S&P 500
#Yields
2-yr: +10 bps to 4.85% at 4.81% prior
10-yr: +8 bps to 3.82% at 3.78% prior
3-yr: +10 bps to 4.43%
5-yr: +10 bps to 4.08%
30-yr: +4 bps to 3.88%
Key takeaway from this report is that it connotes continued strength in the labor market and presumably not much fear about an imminent and material drop-off in end demand knowing that initial jobless claims are a leading indicator.