Weekly Unemployment Claims (every Thursday)
This morning’s sole economic release was last week’s unemployment figures. They showed that 230,000 new claims for unemployment benefits were filed last week, up from the previous week’s revised 226,000 initial filings. Rising claims is a sign of employment sector weakness. Therefore, we can label this release good news for bonds and mortgage rates. However, since it is just a weekly snapshot and the variance from forecasts was fairly minimal, we have seen little reaction to the data.