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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: yard_man who wrote (4236)12/31/2003 2:31:09 PM
From: mishedlo  Read Replies (3) of 110194
 
Unemployment Claims
Brian Reynolds at Minyanville

Claims fall, but take it with a grain of salt

Initial unemployment claims fell from 354k to 339k, below the 350k expected by the Bloomberg consensus. This is the lowest weekly reading since January 2001. However, as with the refinancing numbers this morning, caution needs to be taken when interpreting this number, as holiday seasonals have been known to play havoc with weekly data series. With Christmas having fallen on a Thursday this year, making for an effective 3-day week for many, the potential for abnormal readings is high. In recognition of this potential, the 10-year Treasury has only dropped a few ticks in response to the data.
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Eurodollars unchanged
The market does not believe the numbers
Mish
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