Initial Jobless Claims:
-409,000 last week (previous was 434,000. Consensus was 425,000)
-439,000 4-week average moving average
-At present, 409,000 is considered relatively good for economy, bad for rates.
-This datum was a shot of morning coffee as Treasuries sold on it but will likely recover as the day progresses. 409,000 Jobless Claims is not a sign of economic growth.
-Existing Home Sales 5,050,000 (annualized)
-Previous was 5,100,000. Consensus was 5,200,000.
-The housing market remains ill and is likely to be so through the end of next year.
Leading Economic Indicators:
-Month to Month Change -0.3%. Low Consumer Confidence was the biggest negative for LEI.
-LEI is published by the Conference Board as an attempt to forecast economic growth (GDP expansion) 6 months from now.
-LEI is derived from other data. It is not an independent survey or measurement.
There are no fundamentals tomorrow.