Treasury yields are essentially unchanged this morning following yesterday’s selloff, as the 10-year is sitting at 4.63%.
Yields rose amidst tariff speculation and ahead of today’s and tomorrow’s Treasury auctions of 10- and 30-year maturities. Yesterday’s three-year note auction was met with tepid demand as it drew a 4.332% rate, over a basis point higher than where the yield sat just prior.
The bond market will close early at 2 PM Eastern on Thursday in observance of the National Day of Mourning for President Jimmy Carter.
Hafizan Hamzah
Senior Director, Investment Management Group
| Date | Event | Surv(M) | Actual | Prior |
| 01/07/25 | Trade Balance | -$78.3b | -$78.2b | -$73.8b |
| 01/07/25 | JOLTS Job Openings | 7740k | — | 7744k |
| 01/07/25 | JOLTS Job Openings Rate | 4.60% | — | 4.60% |
| 01/07/25 | JOLTS Quits Level | — | — | 3326k |
| 01/07/25 | JOLTS Quits Rate | — | — | 2.10% |
| 01/07/25 | JOLTS Layoffs Level | — | — | 1633k |
| 01/07/25 | JOLTS Layoffs Rate | — | — | 1.00% |
| 01/07/25 | ISM Services Index | 53.5 | — | 52.1 |
| 01/07/25 | ISM Services Prices Paid | 57.5 | — | 58.2 |
| 01/07/25 | ISM Services New Orders | 54.2 | — | 53.7 |
| 01/07/25 | ISM Services Employment | 51.4 | — | 51.5 |
| 01/08/25 | MBA Mortgage Applications | — | — | — |
| 01/08/25 | ADP Employment Change | 140k | — | 146k |
| 01/08/25 | Initial Jobless Claims | 215k | — | 211k |
| 01/08/25 | Continuing Claims | 1862k | — | 1844k |
| 01/08/25 | Wholesale Inventories MoM | -0.20% | — | -0.20% |
| 01/08/25 | Wholesale Trade Sales MoM | 0.20% | — | -0.10% |
| 01/08/25 | FOMC Meeting Minutes | — | — | — |
| 01/08/25 | Consumer Credit | $10.500b | — | $19.239b |
| 01/09/25 | Challenger Job Cuts YoY | — | — | 26.80% |
| 01/10/25 | Change in Nonfarm Payrolls | 163k | — | 227k |
| 01/10/25 | Two-Month Payroll Net Revision | — | — | 56k |
| 01/10/25 | Change in Private Payrolls | 140k | — | 194k |
| 01/10/25 | Change in Manufact. Payrolls | 5k | — | 22k |
| 01/10/25 | Unemployment Rate | 4.20% | — | 4.20% |
| 01/10/25 | Average Hourly Earnings MoM | 0.30% | — | 0.40% |
| 01/10/25 | Average Hourly Earnings YoY | 4.00% | — | 4.00% |
| 01/10/25 | Average Weekly Hours All Employees | 34.3 | — | 34.3 |
| 01/10/25 | Labor Force Participation Rate | 62.50% | — | 62.50% |
| 01/10/25 | Underemployment Rate | — | — | 7.80% |
| 01/10/25 | U. of Mich. Sentiment | 74 | — | 74 |
| 01/10/25 | U. of Mich. Current Conditions | 75.1 | — | 75.1 |
| 01/10/25 | U. of Mich. Expectations | 72.7 | — | 73.3 |
| 01/10/25 | U. of Mich. 1 Yr Inflation | 2.80% | — | 2.80% |
| 01/10/25 | U. of Mich. 5-10 Yr Inflation | 3.00% | — | 3.00% |
