Bond’s bulls are cheering for the inflation novel

Bond's bulls are cheering for the inflation novel

Thursday starts with two data points that can be traded either way. On one side, we have another resilient reading in the unemployment claims data (237K vs. 250K in broadcast). On the other hand, wholesale inflation (via PPI) came in at 0.1 vs. 0.2 F). If anything, jobless claims are likely to inspire recent bond market action, but although traders briefly pushed yields higher in response, the persistent theme of “low inflation” pervades the day so far.

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