The Shoe That Never Drops

If the question's whether market participants cared about US jobless claims on Thursday, the answer's a hard "no." Technically, traders were back at work, but it'll be next week before anyone's earnestly engaged. Of course, the jobless care about jobless claims, and the "bulletproof" labor market narrative's the most important chapter of the larger US economic "exceptionalism" tale, so it's worth noting that the initial filers headline came in well below estimates. In fact, 211,000 was the low

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