I love to trash economists when given the opportunity…They never look at a calendar when forecasting jobless claims and end up being “surprised” by events like Christmas and Fourth of July. This week they were surprised by a hurricane wiping out much of the Texas coast. They forecast claims to fall when they rose 10,000 on the storm and will probably rise again next week.
The market is paying little attention to such minutiae, more worried about macro issues like bank solvency.
