According to Odaily, Gennadiy Goldberg, Head of U.S. Rates Strategy at TD Securities, believes that the initial jobless claims data is very positive for the market overall. It reinforces the fact that the momentum in the labor market has not slowed down as much as the non-farm payroll report suggested. Additionally, it confirms that there are no significant layoffs occurring in the economy. The rise in the unemployment rate is attributed to the influx of new labor rather than mass layoffs. For the market, the initial jobless claims data is quite encouraging. In the absence of contrary data, the pricing for a rate cut in September is expected to decline, and yields are likely to rise.