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The U.S. Treasuries plunged Friday as investors booked profits amid a subdued trading session that awaits data of little significance. Also, investors are awaiting the release of January consumer price inflation data, due on February 15.
The yield on the benchmark 10-year Treasury rose nearly 2 basis points to 2.41 percent, the super-long 30-year bond yield rose nearly 1 basis point to 3.01 percent while the yield on short-term 2-year note traded flat at 1.19 percent.
Initial jobless claims for the week ending January 28 eased to 246k, declining more than expected (Barclays/consensus: 250k). The four-week moving average edged higher, to 248k, mostly on account of the jump in claims in the previous week. Continuing claims for the week ending January 21 also eased, to 2064k from an upwardly revised 2103k.
Further, non-farm payrolls in the U.S. rose in January, coming in above the market expectations. Non-farm payrolls increased 227,000, as compared with the 180,000 projected by market. On the contrary, the jobless rate rose slightly by 0.1 percentage points to 4.8 percent as household employment pulled back in spite of some re-entry to the labor force.
The influx of people into the labor force increased the participation rate by 0.2 percentage points to 62.9 percent sequentially. Several wider measures of joblessness also rose on the increased labor force participation. The employment-ratio was also up by 0.2 percentage points, matching the post-recession high.
Meanwhile, the S&P 500 Futures rose 0.07 percent or 1.50 points to 2,305.75 by 11:40GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at 15.77 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
