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Market Commentary

Market Commentary

Today's Market Commentary

Thursday, April 11, 2013

Import prices rose -0.5% MoM (0.5% expected) and -2.7% YoY (-2.0% expected) while jobless claims came in at 346k (360k expected). Continuing claims fell less than expected to 3079k (3067k expected).

After selling off yesterday, the US rates market is higher and the curve flatter today. Ten-year notes are up 5 tics to 1.79% as inflation data was tame and employment numbers were generally inline with consensus.There is a UST buyback at 11:00 AM of $2.75-3.5 Billion in the 5/20-2/23 sector and a 30-year auction.


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