Jobless Claims Data Refuses To Accept 'Hard Landing' Scenario...

Initial jobless claims continues to ignore the 'other crappy data', printing 227k (in line with 230k exp) and basically unchanged at two-month lows...

Source: Bloomberg

On a non-seasonally-adjusted basis, initial claims are at their lowest in 10 months!

! Of course! Why not.

Continuing claims also dropped (to three month lows)...

Source: Bloomberg

So, everything is awesome!

Your government-supplied data tells you so!