Initial Claims Fall Hard To 415K

Not bad. Initial claims of 415K are a bit better than expectations, and a touch better than estimates of 420K.

Last week’s number was revised to 457K.

So we’re getting this back and foth between the 400K range and the 450K range.

The good news, really, is that we’re not moored to 450K anymore.

Markets are a touch lower, but haven’t really moved on the news.

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