US Weekly Jobless Claims Fall Below Expectations to 227,000

Latest Jobless Claims Data

• 📉 Initial jobless claims for the week of July 5th came in at 227,000, which is lower than anticipated.
• ⚠️ This figure represents a decrease of 5,000 from the revised previous week's number of 233,000.
• 🎯 The current initial jobless claims are the lowest recorded since mid-May, when the number was 226,000.

Continuing Claims Remain Elevated

• 📊 Continuing claims for unemployment benefits remain above 1.9 million, with the latest figure at 1,965,000.
• 📈 These continuing claims have been consistently high for the past three months, marking the highest levels seen since 2021.

Treasury Market and Auctions

• 💡 The 10-year Treasury yield is largely unchanged at 4.34%, while the 2-year yield is down to 3.858%.
• 💰 An auction of $22 billion in 30-year bonds is scheduled for 1 PM Eastern.
• 📈 Yesterday's 10-year bond auction was described as very solid, and the 3-year auction was slightly above average, suggesting supply is not currently an issue.