Read the highlights of this week’s commentary from Helios:

  • Initial jobless claims fell slightly to 228K from an upwardly revised 246K the week before. Updated seasonal adjustments raised the number of reported claims and may point to the labor market that is not quite as tight as previous numbers had suggested. However, even the upwardly revised figures remain historically fairly low.
  • Also, on the labor front, job openings in the US fell below 10 million for the first time in nearly two years. However, the number is still elevated, with the ratio of openings to unemployed people is now at 1.67, compared to 1.9 a month ago and 1.2 just before the pandemic.
  • Yields on government bonds fell throughout the week, with the 2-year yield falling for the fifth day in a row on Thursday, the longest streak since the middle of last year

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