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Unemployment claims update





The 4-week moving average of weekly claims for unemployment continues to move lower.

I contrast this to the headline I see on Bloomberg this morning: "The dollar rose to the highest level in three months against the euro while stocks and commodities slid as investors shunned risky assets on concern the global economic rebound will stall. Treasuries rallied." I don't see any sign of a global economic stall. Instead, I see markets that are still shell-shocked, still trading at levels that imply a great deal of concern for the future. Why else would someone believe that a stronger dollar—which is only a few percentage points above its all-time lows—is a reason to not buy U.S. assets with otherwise-attractive yields?

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