Chasing Yields

Job Openings and Labor Turnover Survey (JOLTS) numbers were released this week from the Bureau of Labor Statistics indicating that there were 7.15 million jobs opened at the end of November.

Treasuries edged lower today after the Bureau of Labor Statistics announced October and November job reports.

While investors wait for the results of the FOMC meeting and an anticipated cut, the bond market is keeping an eye on the bigger picture.

Treasury yields are mixed as bond buyers assessed future growth and inflation issues following yesterday’s quarter-point interest rate cut by the Federal Reserve and their hints of two additional cuts by year’s end.

This week, we’ve seen a significant rise in jobless claims, reaching the highest level in 4 years, as reported by the Labor Department. This, coupled with the August consumer price index surging by 2.9%, a faster pace than the two previous months, has had a profound effect on the market.

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In our previous columns, we’ve often addressed a major pitfall for bond investors: the attempt to out-guess the market.

As the earnings season starts to wind down, investors have been mostly optimistic about what’s come out to date, which has helped to keep momentum in the stock market moving forward.

Treasury yields are lower today as investors digest the latest economic news showing inflation is cooler than anticipated. Yields were down across the board as I write:30yr – 4.822% 10yr – 4.233% 2yr  – 3.681%Thursday, we anticipate the release of the Producer Price...