Following the surprise plunge in job layoffs (to 14-month lows) according to Challenger, Grey, and a day after exuberant ADP jobs data, initial jobless claims spoiled the party a little and rose 9k to 269k (in line with expectations). However, for The Fed, this is awesome, as the trend remains near 42 year lows. The question is - as the chart below shows - what happens next?
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Charts: Bloomberg
