Reply To: Traders Market Weekly: A Magical Green First Quarter for Stocks


Initial jobless claims for the week ending March 30 increased by 9,000 to 221,000 (consensus 214,000). Continuing jobless claims decreased by 19,000 to 1.791 million.

The key takeaway from the report is the element of softening seen in the initial claims number; however, initial claims continue to run well below levels associated with a truly weak labor market and a contracting economy.

The trade deficit in February widened to $68.9 billion (consensus -$66.0 billion) from a downwardly revised -$67.6 billion (from -$67.4 billion) in January. The widening was the result of exports being $5.8 billion more than January exports and imports being $7.1 billion more than January imports.

The key takeaway from the report, though, is that both exports and imports increased in February, reflecting a pickup in global trade.

Treasury yields turned lower in response, which coincided with equity futures climbing.

The 10-yr note yield was at 4.37% just before the data, but sits at 4.34% now.
The 2-yr note yield moved from 4.69% to 4.68%.