Jobless Claims Rise Again

The Bureau of Labor Statistics announced this morning that, for the week ending November 21st, Initial Jobless Claims totaled 778k on the heels of the prior week’s slightly revised 748k. Analysts were expecting 730k. For Continuing Claims, the week ending November 14th saw that total fall to 6.07M from 6.37M against an expected drop to 6M. Earlier in the day, the Mortgage Bankers Association reported that Applications rose by 3.9% for the week ending November 20th.

The Bureau of Economic Analysis also published its second estimate of Q3 GDP, and at 33.1%, was unchanged. From the Census Bureau, we learned that Durable Goods Orders in October rose by 1.3% and that was better than the 0.8% that was forecast. Core Capital Goods Orders for last month rose by 0.7% and that also beat the estimates looking for 0.5%. The prior month’s 1% rise was revised to 1.9%.

While equity markets look like they’re taking a breather today, Treasury prices are up slightly with the Ten-Year’s yield dipping to 0.87%. The Long Bond looks to be resting at around 1.60%. The rally in crude oil is continuing and the price per barrel has worked its way up to $45.53. Gold is also up so far and is trading around $1,815.