Initial Jobless Claims Confirm Hillbama's "Everything Is Awesome" Meme; But...

Initial jobless claims continue to live in a distorted world of its own... Against expectations of 265k, claims beat with a 260k print - flat to last week and stuck near 42 year lows suggesting we've almost never been better.

Forward-looking expectations of employment in Services and Manufacturing sectors looks bad... and did not end well last time...

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