abril 14, 2021

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Unemployment claims are mixed with treasury yields rather than data

U.S. Treasury yields were mixed on Thursday morning before the release of weekly unemployment claim data.

Yield on the benchmark 10 year treasury note It dropped to 1.653% at 5am ET at 5am. Yield 30 year treasury bond 2.337%. Yields are moving in the opposite direction to prices.

In light of last week, the latest update on the Department of Labor’s unemployment demands was announced by investors at 8:30 p.m. Blockbuster Wage Report. Economists who voted for Dow Jones expect the total number of unemployment insurance claims to be 694,000 for the first week ending April 3.

Yields have been rising recently due to concerns about inflation amid the economic recovery from the corona virus outbreak. However, the Federal Reserve pointed out at its March policy meeting that its long-term target would be more than 2% if inflation helped achieve full employment.

Minutes from March meeting of the Central Bank, Released on Wednesday, confirmed that it would retain its accommodation policy until it reaches economic “consequences”.

Sarah Hevin, Standard Chartered Bank’s Head of Research for Europe and the United States, told CNBC.Squaw Box Europe“On Thursday, it appeared that the central bank was a factor in some of the improvements seen in economic data from the last meeting.

“Therefore, I think they will be a factor in the huge number of wages in the coming months,” he said, but added that “how far the current strength of the economy lasts” is uncertain.

However, Hevin pointed out one Study published by the Central Bank of New York Yesterday it showed that the latest stimulus checks are being put into storage and paying off debt rather than being spent. He suggested that it would be “prudent” for the central bank to take a “cautious approach” to policy at this stage.

He added, “There is still a big release gap and in the eyes of the central bank, inflation should close the release gap to reach the target again. In fact it should be a little above the target.”

Federal Economic Leader Jerome Powell will address the International Monetary Fund debate on the world economy on Thursday at 12 noon.

The auction will take place on Thursday for $ 40 billion on 4-week bills and $ 40 billion on 8-week bills.

CNBC’s Thomas Frank contributed to the report.