Weekly Unemployment Claims (every Thursday)
The second was last week’s unemployment figures that revealed 244,000 new claims for unemployment benefits were filed last week. This was an increase from the previous week’s revised 242,000 initial filings. The higher the number of initial claims, the better the news it is for bonds and mortgage pricing. Because we were expecting to see no change in claims, the increase is favorable news. The downside is that this is only a weekly report and does not come close to carrying enough importance to offset the broader selling in bonds.