WS #14703
US initial jobless claims hovered near historic lows at 197,000, signaling a labor market that continues to defy recessionary forecasts. This data reinforces the 'higher-for-longer' interest rate environment, keeping upward pressure on the 10-Year Treasury yield above 5.15%. Fed officials, including Cleveland Fed President Hammack, emphasized that inflation risks remain tilted to the upside due to supply shocks and solid demand, dampening hopes for imminent rate cuts.
Macro Resilience vs. Rate Pressure
US initial jobless claims hovered near historic lows at 197,000, signaling a labor market that continues to defy recessionary forecasts. This data reinforces the 'higher-for-longer' interest rate environment, keeping upward pressure on the 10-Year Treasury yield above 5.15%. Fed officials, including Cleveland Fed President Hammack, emphasized that inflation risks remain tilted to the upside due to supply shocks and solid demand, dampening hopes for imminent rate cuts.