• Continued Claims (Aug)/30
    • 1,939K vs 1950K f'cast, 1940K prev
  • Continued Claims (Aug)/30
    • 1,939K vs 1950K f'cast, 1940K prev
  • Jobless Claims (Sep)/06
    • 263K vs 235K f'cast, 237K prev
  • Jobless Claims (Sep)/06
    • 263K vs 235K f'cast, 237K prev
  • m/m CORE CPI (Aug)
    • 0.3% vs 0.3% f'cast, 0.3% prev
  • m/m UNROUNDED CORE CPI (Aug)
    • 0.346% vs 0.3% f'cast, 0.3% prev
  • m/m SUPER CORE
    • 0.330 vs 0.481 prev
  • m/m Headline CPI (Aug)
    • 0.4% vs 0.3% f'cast, 0.2% prev
  • m/m Headline CPI (Aug)
    • 0.4% vs 0.3% f'cast, 0.2% prev
  • y/y CORE CPI (Aug)
    • 3.1% vs 3.1% f'cast, 3.1% prev
  • y/y CORE CPI (Aug)
    • 3.1% vs 3.1% f'cast, 3.1% prev
  • y/y Headline CPI (Aug)
    • 2.9% vs 2.9% f'cast, 2.7% prev
  • y/y Headline CPI (Aug)
    • 2.9% vs 2.9% f'cast, 2.7% prev

.346 is just about as high as Core CPI could be without printing at 0.4 vs the 0.3 expectation.  Headline CPI was 0.382 vs a 0.3 expectation.  If that's all we knew this morning, bonds would likely be losing ground.  As it stands, a big jump in jobless claims is adding to labor market concerns and those are front and center when it comes to the Fed justifying a rate cut next week.

MBS are up a quick eighth in 5.5 coupons and a quarter point in 5.0 coupons.  10yr yields are down 5bps at 4.00%.