Weekly Jobless claims rose by 27,000 to 542,000 from a revised 515,000 previous week. The four week moving average rose to 506,500 from 490,750.
It is about to get worse for the job market. Especially with Citi laying off 50,000 and other financials laying off more people.
Equity futures were off on the news. Two year bonds declined below 1 percent for the first time. The three month bill is yielding .06 percent. There is a lot of fear out there.
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