Jobless Claims Rose Last Week

The Bureau of Labor Statistics reported this morning that Initial Jobless Claims for the week ending February 6th came in at 793k and that was more than the 760k that analysts expected. The prior week’s count of 779k was revised to 812k. Continuing Claims for the week ending January 30th fell to 4.55M from the prior week’s 4.69M that was revised from 4.59M.

In early trading, Treasury yields are little changed with the Two-Year at 11 basis points, the Ten-Year at 1.14%, while the Long Bond yields 1.91%. Crude oil is off about a half-dollar to $58.28 while gold is up a couple bucks to $1,845. The Treasury completes its refunding today with the sale of $27B Thirty-Year bonds.