Jobless Claimss down but still too high
Initial Jobless Claims (week ended 12/1/2012)
New Claims – 370,000. Previous revised to 395,000
4-week Moving Average 408,000. Previous was 495,750.
I suppose that we are now past the Sandy spike. Nonetheless, this level is still to high. 370,000 unemployed per week is not what a recovery looks like.
Challenger Job-Cut Report (November 2012)
– Announced Layoffs – 57,081. Previous was 47,724.
Techs
The technical analysis of the 30 year Treasury bond future shows some bullish signs. A weaker than expected BLS tomorrow could cause a healthy rally – higher prices, lower yields. Look at the 3rd graph here http://www.stomaster.com/stopdfdc.pdf and you will see that the daily tech is poised to upcross to bullish.