Sumary of U.S. Treasury yields ease, TIPS auction bid at record low:
- The sale was well received with submitted bids 2.50 times the offer, with the 10-year awarded at -1.016% after trading the Story continues below This has not loaded yet, but your article continues below.
- Article content entire morning cheaper than -1.0%, said Jim Vogel, interest rate strategist at FTN Financial in Memphis.
- The number of Americans filing new claims for jobless benefits rose to a two-month high last week, the Labor Department said in a report that nevertheless showed more people are returning to work.
- Initial claims for state unemployment benefits increased by 51,000 to a seasonally adjusted 419,000 for the week ended July 17, the highest level since mid-May.
- Economists polled by Story continues below This has not loaded yet, but your article continues below.
- Article content Reuters had forecast 350,000 applications for the latest week.
- After several weeks of volatility, the market is settling into a period of equilibrium before the next week’s meeting of the Federal Open Market Committee, said Ben Jeffery, rate strategist at BMO Capital Markets in New York.
- “Positions are in the process of starting to be set ahead of next week’s Fed meeting, so we’re Story continues below This has not loaded yet, but your article continues below.