It’s The Positioning, Stupid! By Maartje Wijffelaars, Senior economist at Rabobank US jobless claims were down by 17,000 to 233,000 in the week that ended 3 August. The drop was largest in almost a year’s time and lower than expectations (240,000), although the latter is anything but unique. Continuing claims edged up and reached their highest level since end November 2021, though, underscoring that unemployment is still trending upwards and that the labour market continues to cool. Yet, the figures sent both stocks and yields higher as it lowered both – in our opinion overdone – fears of a hard… — Continue at ZeroHedge News : Read More
