Finally we see a jump in jobless claims with numbers up 17,000 for last week–to 240,000 and continuing claims up to 1.55 million from 1.5 million. Honestly not a giant jump on a historical basis, but directionally softer. On the other hand the durable goods orders and capital equipment orders were stronger than expected—overall mixed signals.
Equities are dead flat–yesterday at this time markets were flat and I though we would see a quiet day–boy was that incorrect with equities up over 1%. Guess we will have to wait and see–won’t change my plans.
Interest rates are at 3.77% on the 10 year treasury—Flat!
We have some other economic numbers today, but the FOMC minutes at 1 pm (central) could be market moving–volume will be light this afternoon and minor volume could mean big moves.
Last night we saw a tender offer from PS Business Parks for their outstanding preferreds—criminals and thieves is how some describe the tender. Shares will be delisted soon.