Bonds & Stocks
Treasury yields edged higher after solid economic data spurred bets the Federal Reserve will be in no rush to cut interest rates. Ahead of the start of the Fed’s pre-meeting silent period, the bond market saw mild losses. That’s a day after dip buyers resurfaced to snatch Treasuries at attractive yields, triggering a wave of short-covering. Equity futures wavered after a four-day losing streak that drove the S&P 500 closer to technically “oversold” levels.
Economy
Initial jobless claims for the week ended April 13 — which coincides with the survey week for the month’s employment report — suggest a low rate of firing. The labor market continues to cool, particularly in certain parts of the country — suggesting conditions are more diverse and less sanguine than implied by the national tally.
World
Iran warned Israel against attacking its nuclear facilities, threatening to respond in kind if atomic sites in the country are targeted. “The nuclear centers of the Zionist enemy have been identified, and the necessary intelligence about all targets is at our disposal,” said Ahmad Haghtalab, the Islamic Revolutionary Guard Corps commander responsible for protecting Iran’s nuclear facilities.