Initial Claims Tick Up Again

The Bureau of Labor Statistics just announced that for the week ending April 3rd, Initial Jobless Claims totaled 744k. Analysts were expecting 680k while the prior week’s total of 719k was revised to 728k. Continuing Claims for the week ending March 27th fell less-than-expected to 3.73M from the prior week’s slightly revised 3.75M. Analysts were expecting a drop to 3.64M. Treasury prices were already on the rise before this morning’s announcement and that hasn’t changed. The Long Bond’s yield has fallen slightly to 2.34% while the Ten-Year’s yield has slipped to around 1.65%. The Two-Year is steady at around 15 basis points. Crude oil is little changed at $59.62 while gold has rallied about $12 to $1,750. Equity futures are mixed.