Markets & Finance

Treasuries Move Lower

From Standard & Poor's Equity ResearchAction Economics: The rebound in jobless claims Thursday was good for a brief jump in Treasury prices and dip in yields, coming just ahead of tomorrow's payrolls data, though few are drawing much in the way of conclusions from all the anecdotal labor readings this week in the build-up. The 10-year yield continues to loiter near 4.57% after a small false break toward 4.56%, but with risk of some sort of rebound from August's negative payrolls print that precipitated the deeper than expected Fed cut, it would appear risks are aligned against the bulls for now. Indeed, Treasuries are trading lower now with Bunds after the ECB's relatively hawkish policy statement.

Steve Ballmer, Power Forward

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