The release of better-than-expected weekly U.S. jobless claims data this morning at 8:30 AM ET has provided the spark for a sell-off in the Treasury market and sent the U.S. dollar surging against the Japanese yen.
The euro, meanwhile, is getting a big lift against both the dollar and the yen this morning following the European Central Bank’s latest decision to make no changes on the monetary policy front for another month.
The 10-year U.S. Treasury note is trading at a yield of 2.74%, three basis points above yesterday’s closing levels. The S&P 500 is trading up 0.3% at 1879, a new all-time high, but futures were little changed throughout the morning prior to the opening bell, despite movements in other major markets.
The charts below show the latest price action in various markets. Across the top from left to right are S&P 500 futures, the U.S. dollar-Japanese yen exchange rate, and the euro-U.S. dollar exchange rate. Across the bottom are gold futures, 10-year U.S. Treasury note futures, and NYMEX crude oil futures.