Weekly Unemployment Claims (every Thursday)
The first of this morning’s three pieces of economic data was last week’s unemployment figures at 8:30 AM ET. They showed that 260,000 new claims for unemployment benefits were filed last week. This was higher than the 249,000 that was expected and an increase from the previous week’s revised total of 247,000 initial filings. The increase is good news for bonds and mortgage rates because it points towards a weakening employment sector. However, since this is only a weekly snapshot, it did not cause much movement in the markets.