First, we have the initual unemployment claims from yesterday, and they fell by 16,000 to 187,000 the lowest level since September 2022, with continuing claims falling to 1.81 million and the 4-week moving average falling to 203,250.
Meanwhile, consumer sentiment rose to the highest level in nearly 3 years, and with the 2-month gain being the largest since 1991.
Meanwhile, US home sales fell to the lowest level since 1995, down 19%, with housing starts falling but building permits rising.
My guess is that people are expecting the Fed to lower rates significantly over the next few months, but this is still some pretty confusing shit.
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