Initial jobless claims
- Prior week 209K revised from 208K
- Initial jobless claims 231K vs 215K estimate.
- 4-week moving average of initial jobless claims 215K vs 210.25K last week.
- Continuing claims 1.785M vs 1.785M estimate.
- 4-week moving average of continuing claims 1.781M vs 1.787M last week.
The initial claims is the largest since the last week of August 2023. It is not a holiday week (well it may be an Easter effect) which can be distorted due to seasonal. The continuing claims did remain steady. In the past the spikes have seen a rotation lower soon thereafter. We will see if this is a trend or an aberration in the week(s) ahead.
Yields are a bit lower. The pre-market for US stocks have since declines in the Nasdaq erased. The S&P index is close to unchanged as well.
