Photo: Trane Devore
From Nomura:The key US economic data points for Thursday are jobless claims and the Philly Fed survey. Our economists believe that the downward trend in claims has resumed following technical adjustment problems that were exacerbated by the backlog of claims filings following Hurricane Irene in early September. For the Philly Fed, they are forecasting a modest improvement to -9.9 (Consensus: -9.6; Previous: -17.5). This early read on October manufacturing sentiment is likely to reflect business conditions that continue to improve, but remain uncertain. For the leading indicators, we are looking for an increase of 0.3% in the September index. On the supply front there is an auction of 30yr TIPS.