Read the highlights of this week’s commentary from Helios:
The labor market continues to show its strength with initial jobless claims dropping below 200K again, coming in at 187K, the lowest since 1969. Economists are expecting March’s nonfarm payrolls report, which will be released on April 1, to show a gain of 485K jobs.
February’s pending home sales unexpectedly fell for the fourth month as the market faces limited inventory as well as rising borrowing costs as mortgage rates climb. The 4.1% decline missed expectations by a huge margin, with economists having expected a 1% increase in the latest survey by Bloomberg.
March’s consumer sentiment reading was revised downward, putting it at a fresh decade low. Almost a third of people expect their financial situation to worsen over the next year, the highest levels since the survey started in the mid-1940s.
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