• Jobless Claims
    • 219k vs 215k f'cast, 214k prev
  • Continued Claims
    • 1869k vs 1870k f'cast, 1845k prev
  • Philly Fed Index
    • 18.1 vs 20.0 f'cast, 44.3 prev
  • Philly Fed Prices
    • 40.5 vs 21.90 prev

With Jobless Claims being slightly higher than expected and Philly Fed slightly lower, one might expect to see bonds improve just a bit.  But the Philly Fed's inflation reading jumped enough to offset any bullish suggestion in the data. If anything, it's a victory to be holding the overnight gains.

MBS are up an eighth of a point and 10yr yields are down 2.2 bps at 4.511.