Weekly Unemployment Claims (every Thursday)
The first of this morning’s two economic reports was last week’s unemployment update that showed 286,000 new claims for benefits were filed. This was an increase from the previous week, higher than expectations of 211,000 and the highest weekly number in three months. We can label this as good news for bonds and mortgage rates since it is a sign of a weakening employment sector. However, because it is just a weekly snapshot, it doesn’t carry much weight in the markets unless it reveals a significant surprise.