10-year Treasury yield rises above 3.98% again following a decline in jobless.
Thursday saw a rise in U.S. Treasury yields as Wall Street evaluated the weekly data on unemployment claims, which came in lower than anticipated and allayed some fears about a contracting labor market.
At 3.981%, the yield on the 10-year Treasury was approximately 3 basis points higher.
The benchmark yield was trading close to its biggest position since Thursday, the day before the dismal jobs report from July sent rates plunging.
TREASURY :
Ticker Company's Yield Change:
US1M (1 Year US Treasury) 5.34 0.004
US3M (3 Month US Treasury) 5.222 0.002
US6M (5 Month US Treasury) 4.965 0.018
US1Y (1 Year US Treasury) 4.48 0.049
US2Y (2 Year US Treasury) 4.059 0.06
US10Y (10 Year US Treasury) 3.994 0.026
US30Y (30 Year US Treasury) 4.282 0.022
According to Labor Department data released on Thursday, initial applications for unemployment insurance for the week came in at 233,000, which was less than a Dow Jones projection of 240,000.
Claims decreased by 17,000 from the week before. "Despite the July BLS report, the labor market is being interpreted as having strong fundamentals, as evidenced by the larger-than-expected decline in initial filings and the ensuing price action," stated Ian Lyngen, head of the U.S. rates at BMO Capital Markets.
The data follows a tense period for the stock market following the release of last week's disappointing jobs report, which sent markets plunging and stoked worries about the health of the US economy and the possibility of an impending recession.
