November Challenger Job-Cut Report to be released at 07:30
Treasury Closing Summary: Treasury Closing Summary: The bond market continued to lick its wounds on Thursday after a drop in jobless claims sparked another round of selling before the market recovered some stability after a weak Philly Fed reading and large NY Fed asset purchase. Stocks migrated higher regardless and mixed Fedspeak from hawk Lacker and dove Bullard tested investor credulity as well. The 10-year TIPs reopening found decent demand after the modest uptick in core PPI.
More from Bullard: there is still has room to expand the Fed balance sheet More from Bullard: there is still has room to expand the Fed balance sheet, in comments to reporters. He added progress has been mad in separating rate policy from QE. The Fed dove believes it is necessary to defend the inflation target from the low side, and would favor setting a 1.5% floor. He doesn't expect the Committee will alter IOER, but it might be considered as a tool if there is another downturn in the economy. Today's jobless claims data was good news. Analysts doubt Bullard would vote to taper QE at the December meeting.