Treasury Market Preview by Trade the News Staff - On the U.S. calendar today are the releases of Jobless Claims and Continuing Claims are 8:30 a.m. At 10:00 a.m. we have the Help Wanted Index for Jan. No Fed speak is scheduled for today. - After the close yesterday, Fed's Yellen said that inflation is higher than she would like and that she supports the Fed's tightening bias. She also said that financial conditions are not very restrictive. - The home builder, Toll Brothers, reported Q1 earnings this morning of $0.33 versus estimates of $0.29. The company said that its cancellation rate rose to 29.8% from 36.9% in Q4. Additionally, Toll Brothers guided revenues for the full year between $4.2B and $4.96B compared to the street view of $4.36B. - In new supply today, the Treasury will sell $13B of 5Y notes. Yesterday's $18B 2Y note auction is said to have met good demand, covering 3.04 times with an indirect bid of 52.2%. - In European economic news, German final Q4 GDP was 0.9% as expected or 3.7% YoY. Private consumption rose less than expected by 0.3%, while domestic demand fell unexpectedly by 1.3%. German imports rose less than expected by 1.6%, while exports increased more than expected by 6.0%. In France, the Business Outlook Indicator was 107 in Feb, above expectations of 106. And in Switzerland, the employment rate rose to 1.6% in Q4 from 1.3% in Q3. In the Euro-zone, industrial new orders rose 2.8% in Dec., above estimates of 0.2%. Finally, ECB's Papademos reiterated overnight that interest rates in the Euro-zone remain low and liquidity is ample. He also said that the ECB will act pre-emptively against inflation. - In Asia, the Nikkei 225 traded above 18,000 for the first time since May of 2000. Japan's trade balance surplus was 4.4B yen in Jan. versus expectations of a deficit of 140B yen. BOJ's Fukui said that the central bank is to raise rates as gradually as possible. Yesterday, he said the BOJ would not raise rates at consecutive meetings. - At 8:15 a.m. the 30Y future is down 6 ticks at 111 9/32, the 10Y future is down 4 ticks at 107 14/32 and the 2Y future is off 1 tick at 101 29/32.