Higher Jobless Data Music to the Ears of Equity Market Bulls
By
Mike Paulenoff
Hmm... Based on these data, higher Weekly Claims definitely showed some deterioration in the labor market, which is music to the ears of the equity market bulls who are increasingly convinced that the US economy is weakening, that the Fed definitely is finished hiking rates, and that the Fed could be more likely to CUT rates sooner than later...
ES popped from down 8 to down 3 points on the Claims data, while 2-Year Treasury YIELD notched down to 4.85% from 4.90%...
