Claims data, yields at multi month highs in response

Initial jobless claims fell to 201k from 213k and that was 15k less than expected but because it was President’s Day Weekend, I’ll always wait for the week after a holiday influenced print for a better tell. Smoothing this out, the 4 week average fell to 215k from 219k. Continuing claims fell by 27k to 1.862mm after rising by a like amount in the week before.

As stated, it was a holiday influenced figure but either way, the number of people filing for claims remains muted while those remaining on benefits is still elevated.