Recognizing it's only one set of data, the just-released US jobless claims numbers go against the established economic narrative in two ways: An unfavorable data miss for both initial and continuing claims; and The data also counter the theme of continued economic improvements albeit at a moderating rate. In the midst of all this, some 30 million people are resorting to some form of unemployment benefit support (Bloomberg chart below). As to the market reaction, the disappointing data led to gains in US stock futures. Why? One reason may be the policy dimension: Markets' belief that the higher risk of fading economic momentum may help break the deadlock in Congress and also keep the Fed in uber-stimulus mode. #markets #bonds #investing #economy #economics #equities #stocks #investors #federalreserve #jobs #unemployment #employment …see more