MUFG interest rate strategist John....>

US DATA REACT: MUFG interest rate strategist John Herrmann quipped, "don't look

now, but these jobless claims are tracking a very, very low level." He adds that

"algos may be trading the never-ending 'noise' emanating from the Trump

Administration, the FBI, the Congress, the Budget, the Debt Ceiling and the

establishments [and fringes] of both national parties, but beneath that level of

political uncertainty, the underlying economic details appear remarkably

favorable - especially for an economy entering its ninth year of expansion!"

- He cited two items: "1. The insured unemployment rate currently is the lowest

for any week, any month and any year since the year 1970;"

- 2) "The month of August, for its four-week average of initial jobless claims,

is tracking one of its lowest levels on record - according to our models

forecasts."