Labor market saw 217,000 new unemployment claims last week

Nov. 9:

There were 217,000 initial unemployment claims last week, slightly below the expected 218,000 claims. The four-week moving average rose to 212,250, a sign the labor market may be cooling.   

State of the market

This morning, Treasury yields were mixed and the Dow traded up slightly.

Economic calendar

Thursday, Nov. 9

• Federal Reserve Chair Jerome Powell participates in a panel on “Monetary Policy Challenges in a Global Economy” at the International Monetary Fund’s Jacques Polak Annual Research Conference in Washington, D.C.

Friday, Nov. 10

• University of Michigan Consumer Sentiment

Treasury calendar

Thursday, Nov. 9

• $24 billion auction of 30-year Treasury bonds

By Mike Kraft, Executive Director and Commercial Real Estate Treasurer for Commercial Banking