#USInitialJoblessClaimsStayBelow200K Everyone waiting on the recession got another rejection letter.
Jobless claims came in at 199,000 last week, below 200,000 for a third straight week and under the 205,000 economists expected. The four-week average just fell to its lowest since 2022.
A labor market this tight gives the Fed no reason to cut fast, yet markets are still pricing a string of cuts.
With claims sitting at cycle lows, the rate-cut trade is leaning the wrong way. $TLT
$CYS
$BICO
$LAB
Jobless claims came in at 199,000 last week, below 200,000 for a third straight week and under the 205,000 economists expected. The four-week average just fell to its lowest since 2022.
A labor market this tight gives the Fed no reason to cut fast, yet markets are still pricing a string of cuts.
With claims sitting at cycle lows, the rate-cut trade is leaning the wrong way. $TLT
$CYS
$BICO
$LAB