March durables surprise +2.7%, +0.4% ex.....>

US DATA: March durables surprise +2.7%, +0.4% ex transport; Claims 230k

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- Durable goods orders well above-expected +2.7% in March vs +0.8% BBG, 

+0.6% MNI, with nondef aircraft (+31.2%) the main driver, as expected. 

- Feb orders rev up to -1.1% vs prev -1.6%, adding to headline surprise.

- Durables orders ex. transport above-expected +0.4% vs +0.2% BBG and 

+0.4% MNI. Key was +9.0% communications equipments (high since Jan 2015).

- Nondefense capital goods new orders +6.5%, ex. aircraft +1.3%, while 

nondefense capital goods shipments flat, ex. aircraft -0.2%. 

- The March data may cause analysts to raise their forecasts for 

nonresidential fixed investment ahead of Friday's advance Q1 GDP report.

- Initial jobless claims +37k to 230k in April 20 week, well above BBG 

expectations for 200k (201k MNI) following five straight declines.

- The 4-week initial claims avg +4,500 to 206,000 following four straight 

declines, but remain very low. The average will likely rise again next week. 

- Continuing claims +1,000 to 1.655m in April 13 survey week, -100k from 

March 16 survey week.