US DATA: Jobless Claims Still Relatively Resilient
Apr-10 13:54
Jobless claims data were on balance a little better than expected, with initial in line and continuing surprising lower after a 3+ year high. The data continue to point to a moderation in rehiring activity rather than anything sharper.
- Initial claims were as expected at 223k (sa, cons 223k) in the week to Apr 5 after an unrevised 219k.
- The four-week average was also unchanged at 223 for a second reading at its lowest since mid-Feb.
- Continuing claims meanwhile pulled back to 1850k (sa, cons 1884k) in the week to Mar 29 after the previous week’s fresh high since late 2021 was trimmed to 1893k (1903k) – although that’s still technically a 3+ year high after three readings of 1892k between Nov-Feb.
- The absolute level of NSA continuing claims is higher than recent years – it was last higher for this time of year in 2018 – but it’s still a measured relative increase as implied by the SA data.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
US: Latest SOFR Options
Mar-11 13:42
- SFRU5/SFRZ5 95.87/95.62/95.37p fly, bough the Sep for flat in 2.5k.
- 0QM5 97.25c vs 2QU5 97.37c, spread, bough the 2yr for 0.25 in 15k.
US TSY FUTURES: TY Blocked
Mar-11 13:40
Latest block trade lodged at 09:33:05 NY:
- TYM5 7.0K lots blocked at 111-07+, looks like a seller based on prevailing bid/offer at the time (111-08/09).
- Subsequent uptick looks more related to early equity trade.
- DV01 ~454K.
FOREX: FX Exchange traded roll pace
Mar-11 13:39
FX Exchange traded Roll pace: The spreads have picked up, over half the Volume in the Front Month EUR is now roll related, expect for these to be all but done on Friday (expiry next Monday).
- EUR: 33%.
- GBP: 28%.
- JPY: 43% (above pace).
- CHF: 24%.
- CAD: 17% (below pace).
- AUD: 40%.
- NZD: 31%.
- SEK: 39% (above pace).
- NOK: 28%.
