Treasuries are little changed from yesterday’s settlement levels following the data.
The key takeaway from the report would have to be the uptick in the year-over-year inflation readings. They weren’t of the eye-popping variety; however, they should catch the Fed’s eye as a basis not to cut rates anytime soon.
The key takeaway from the report is that initial claims — a leading indicator — continue to run at levels that are indicative of a tight labor market that goes hand-in-hand with an economy that is definitely not in a hard-landing pattern.
The 2-yr note yield is unchanged at 4.88% and the 10-yr note yield is down one basis point to 4.11%.
2-yr: UNCH at 4.88%
3-yr: +1 bp to 4.57%
5-yr: +1 bp to 4.28%
10-yr: -1 bp to 4.11%
30-yr: -1 bp to 4.22%