Daily Insights and finance industry analysis

Rates fall on weak labor market data. Swap rates fell 3-4bps across the curve today after weaker than expected job openings data showed signs of a cooling labor market. Rates fell ~3bps in the immediate aftermath of the labor print before falling another ~4bps into the close. The move also occurred despite a strong consumer

Rates rise as markets await crucial U.S. data. Swap rates declined from overnight levels this morning before grinding higher throughout the remainder of the session, closing 3-5 bps higher. Rates traded within a ~6bp range in a relatively quiet session, with markets eyeing Thursday’s inflation print, Friday labor market data, and next week’s presidential election. Meanwhile,

Rates rise on strong consumer sentiment. Swap rates fell to intraday lows this morning after durables goods orders were revised lower to -0.8% in August while preliminary data showed that durable orders fell -0.8% in September as well. However, rates closed ~7bps above the lows and 3-4bps higher on the day after consumer sentiment was

Rates fall despite strong economic prints. Today’s economic data showed lower than expected jobless claims for the week that ended October 19th, rising new home sales, and strong business activity. However, swap rates fell 1-4 bps today across a flattening curve. Markets are now looking ahead to tomorrow’s University of Michigan consumer sentiment data and preliminary

Rates climb while Tesla kicks off “Magnificent Seven” earnings. Swap rates and Treasury yields grinded higher today and closed 2-5bps above opening levels. Yields have risen 30-55bps over the past month, pushing the long end of the curve to its highest levels in 3 months. Meanwhile, Tesla stock soared over 10% in after-hours trading as

Rates trade within a tight range while gold hits another all-time high. Swap rates closed nearly flat today after trading within a 5bp range throughout the session. A 1-2bp climb at the belly of the yield curve pushed all Treasury yields above 4% other than the 3y (3.98%). Meanwhile, gold rose to $2,749 per ounce, yet

Swap rates rise significantly to start the week. The swap curve bear steepened today as the belly and long end of the curve rose over 10bps while the short end climbed 6-9bps. All Treasury yields are now above 4% other than 3-year (3.96%) and 5-year (3.99%) tenors. The move occurred gradually throughout the session and

Rates grind lower in a relatively quiet session. Swap rates fell 1-3 bps across the curve today in a slight reversal of yesterday’s retail sales driven rise. On the week, rates were roughly unchanged, with the sharpest move (+3-4 bps) coming from the long end of the curve. Meanwhile, crude oil continued its decline today, with Brent and WTI down

Rates rise on strong economic data. Swap rates rose across a bear steepening curve today as robust retail sales and lower-than-expected jobless claims created doubt about the Fed’s future aggression with rate cuts. Jobless claims totaled 241k in the week that ended October 12 versus the 259k forecast. The data drove an immediate ~6bp spike

Rates close nearly unchanged ahead of retail sales. Rates traded within a ~5bp span today as markets look ahead to tomorrow morning’s retail sales data, which is expected to increase to 0.3% in September from 0.1%. Treasury yields closed 1-2 bps lower across the curve, now down 4-8 bps over the past five sessions. Meanwhile, billionaire investor