US initial jobless claims 228K vs. 225K estimate


  • Initial jobless claims and continuing claims for the current week
Greg Michalowski

Initial jobless claims

The initial jobless claims were more or less is expected. Of course the focus is on the CPI data which came in higher than expected for the headline and for the core numbers. That has the stocks moving to the downside with the Dow down over 300 points the NASDAQ is down -272 points. The 10 year yield Is trading at 3.986%. The US treasury auctioned off 10 year notes yesterday at a high yield of 3.93%.

The April 2023 terminal funds rate is at 4.83%. The Fed had targeted 4.6% as a terminal rate. That implies an additional 25 basis point rise to a target range of 4.75% to 5.0%

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