U.S. March Producer Prices were +2.1% Y/Y vs. +2.2% est. Core Producer Prices were +2.4% Y/Y, +2.3% est. There was little market reaction to today’s report of steady inflation at the producer level, a welcome relief from yesterday’s CPI-driven volatility.
Weekly Jobless claims for the week ending April 6th were 211k, below both the 215k survey estimate and the prior week’s 222k tally.
The dollar has moved little overnight vs. its index basket of currencies, retreating -0.10% today after yesterday’s 1.05% gain. Dollar losses vs. the G10: -0.64% vs. NZD, -0.58% vs. AUD, -0.48% vs. NOK, -0.37% vs. CHF, -0.26% vs. GBP, and sub-0.25% losses for the remaining.
U.S. Treasury yields have retreated somewhat from yesterday’s rally with all tenors lower. The 10-year yield is -0.026% today compared to yesterday’s 0.182% gain.
