Data Plays Along As US Economy Looks For Summer ‘Boom’

406,000 Americans filed for unemployment benefits last week, a fresh pandemic low and 38,000 fewer than the previous week's total, which was unrevised. On this front, at least, the US is now well on the way to something like "normal," although still months away from any declarations about "woods" and being "out of them." The four-week moving average dropped to 458,750. Initial claims have more than halved since Joe Biden took office (figure below). The market was looking for 425,000 on the