HALISTER1: USD 10Y Swap Rate Attempting Breakout That Could Expose 2.56%

USD 10Y Swap Rate Attempting Breakout That Could Expose 2.56%

(Bloomberg) -- USD 10Y annual swap rate is attempting a triangular breakout which if confirmed could shine light on the 2015 high at 2.56%, Bloomberg technical analyst Sejul Gokal writes.
  • See live chart here; current rate at 2.42% up from 2.26% low seen four days ago
  • Interim resistances at 2.46/47% and 2.52% (Dec. 16 high)
  • A more aggressive objective set at 2.78%, derived from the measured projection from today’s breakout-point
  • The implied yield on the April Fed funds futures contract is at 0.85%. Using the mid-point of the Fed’s target range, now at 0.625 percent, that suggests an 90% chance of a rate hike this month
  • NOTE: Sejul Gokal is a technical strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: U.S. ECO PREVIEW: Jobless Claims Due in 5 Minutes

U.S. ECO PREVIEW: Jobless Claims Due in 5 Minutes

(Bloomberg) -- Following are forecasts for today’s U.S. economic releases as compiled by Bloomberg News:
  • Initial Claims 245k; range 230k to 260k (42 estimates)
  • Cont. Claims 2060k; range 2050k to 2070k (6 estimates)
    • Four-week average declined to lowest since July 1973 in prior report; claims below 300,000 for 103 consecutive weeks, longest period since 1970
    • "First-time and continuing claims are at the lowest levels since the early 1970s, which is testament to the solid state of the labor market. This suggests that employers see demand increasing, necessitating fully-staffed operations": Bloomberg Intelligence
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283