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🚨 U.S. Jobless Claims Surprise Markets: Immediate Reactions 🚨

The latest U.S. jobless claims data has shocked the market, indicating a stronger-than-expected labor market. Here are the key figures:

📊 Initial Jobless Claims: 227K vs. 235K expected (Previous: 233K)

📈 Continuing Jobless Claims: 1.864M vs. 1.870M expected (Previous: 1.875M)

Market Impact:

🔺 Fed Swaps: Now pricing in less than 100 basis points of easing in 2024, signaling a potential shift in monetary policy expectations.

💹 Two-Year U.S. Treasury Yield: Spiked by 10.2 basis points, reaching 4.049%, reflecting increased expectations for higher interest rates.

📈 S&P 500 and Nasdaq 100 Futures: Both extended their premarket gains, suggesting positive market sentiment following the jobless claims report.

💱 USD/JPY: Surged by 0.5% to 148.14, as the stronger dollar pushed the pair higher.

What This Means for You:

⚠️ Expect continued market volatility as traders adjust their expectations for Federal Reserve rate cuts. This could lead to more fluctuations in stock prices and bond yields.

⚠️ Treasury yields may continue to rise if labor data remains strong, which could impact borrowing costs and investment returns.

⚠️ USD/JPY could stay elevated if the dollar continues to strengthen, affecting currency markets and import/export dynamics.

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