- Prior week 219K versus 218K previously reported
- initial jobless claims 220K versus 222K estimate
- 4-week moving average 220.75K vs 220.25K last week
- Continuing claims 1.861M versus 1.910M estimate
- Prior week 1.925M revised down from 1.927M last week
- 4-week moving average of continuing claims 1.872M versus 1.865M last week.
After the surprise rise last week in the continuing claims, the figure has moved back below the 1.900M level which has helped to push yields up with the 10 year yield now up 5.7 basis points to 4.178%. There is some chatter that strike workers returning back to work are contributing rotation back to the downside for the continuing claims.
The US jobs report will be released tomorrow with expectations of around 190K. Goldman expects non-farm payroll to rise by 238K. HMMMM.
