US Initial Jobless claims came in higher than anticipated, increasing by +25,000 to 471,000. The sudden increase to new 6-week highs erases recent optimism and breaks the downtrend pattern. The continuing claims component came in slightly higher then expectations to 4.625 mln and below last week’s levels. The treasury market lurched higher on the report and sent June bonds above 124-00, while the S&P 500 broke down to new lows on the day. Signs of an improving labor market would take place on a break in weekly claims below 400,000.
US Jobless Claims – 2010.05.20
by Blog Admin on May 20, 2010
US Initial Jobless claims came in higher than anticipated, increasing by +25,000 to 471,000. The sudden increase to new 6-week highs erases recent optimism and breaks the downtrend pattern. The continuing claims component came in slightly higher then expectations to 4.625 mln and below last week’s levels. The treasury market lurched higher on the report and sent June bonds above 124-00, while the S&P 500 broke down to new lows on the day. Signs of an improving labor market would take place on a break in weekly claims below 400,000.
Tags: Financials, Reports
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