Weekly Unemployment Claims (every Thursday)
Also posted early this morning was last week’s unemployment update. It revealed 332,000 new claims for unemployment benefits were filed, up from the previous week’s revised 312,000. The increase in new claims is good news for bonds and mortgage rates since rising claims is a sign of weakness in the employment sector. However, the Retail Sales report carries much more importance than this weekly update does. Accordingly, this data has had no impact on today’s bond trading or mortgage pricing.