"Hold on Tight and Don't Let Go" once sang the Knack as do employers now/Q1 GDP mostly pre SVB

After 3 straight weeks of above 260k prints, initial jobless claims for the week ended June 24^th fell to 239k vs the estimate of no change at 265k. As 239k replaces a 233k print, the 4 week average of 258k compares with 256k in the week before. Continuing claims fell 19k to 1.742mm, which is the lowest since February but can’t say confidently whether be…