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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- Earlier, initial jobless claims fell by more than expected in the week to May 13, back to a seasonally adjusted 242k (cons 252k) after the surprise jump to 264k the week prior.
- We touched upon the elevated level of Massachusetts claims, previously linked to fraudulent activity, and its 14k decline in non-seasonally adjusted terms played a big role behind the -18.6k in the raw total.
- Comparing with ‘typical’ weeks in the pre-pandemic era, we can see that the Massachusetts level of 21k is still notably elevated, although it has moved closer to levels from a month ago before the recent lurch higher.
- In comparison, California is the largest US state by population and unsurprisingly also has the highest level of claims, but these are tracking much more in line with pre-pandemic weeks.
- If more broadly representative, it could mean some scope for modest further declines in the level of seasonally adjusted nationwide initial claims.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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