- Prior week 221K revised 222K
- initial jobless claims 211K vs 215K estimate
- 4-week moving average 214.25K vs 214.50K last week
- continuing claims 1.817M versus 1.800M estimate
- continuing claims last week 1.791M revised to 1.789M
- 4-week moving average of continuing claims 1.803M vs 1.799M last week
- The largest increases in initial claims for the week ending March 30 were in California (+2,147), Pennsylvania (+1,913), Iowa (+1,383), New Jersey (+1,230), and Illinois (+1,195),
- The largest decreases were in Texas (-3,248), Missouri (-2,369), Georgia (-935), Arkansas (-459), and North Carolina (-400).
The labor market remains steady and showing no signs of weakness.
The US markets are reacting more to the PPI data which came in a little later than expectations and 0.2% MoM and 2.1% YoY (vs 2.2% estimate). The core was also at 0.2% with the YoY at 2.4% versus 2.3% estimate.
The NASDAQ moved into positive territory with a gain of 33 points. The S&P index is still down -4.3 points.
2-year yield is down 2.3 basis points at 4.948%. The 10 year yield is down -1.8 basis points at 4.543%.
The USD is likewise marginally lower. The EURUSD is trading at 1.07414, after trading to a new low of 1.07145 prior to the release.
