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Initial Jobless Claims & Portfolio Strategy

06/23/2011

Initial Jobless Claims:

  • Jobless benefits rose 9,000 to 429,000, above the 415,000 estimate
  • Last week's figure was revised higher, from 414,000 to 420,000
  • 4-week moving average is 426,250 - unchanged from last week

Commentary: The market remains without a near-term catalyst to return equity prices to the prevailing uptrend. The rate of corrective decline needs to be stabilized first. Optimal strategies remain fixed income, leverage to emerging markets, and fully defensive diversification. The evidence does not suggest new allocations to the market are warranted yet. Standing by . . . .
 
 
Initial Jobless Claims, June 2010 to Present
 
Source: Bloomberg


Initial Jobless Claims, 4-Week Moving Average, June 2010 to Present

Source: Bloomberg

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