Financial Professionals


Initial Jobless Claims & Portfolio Strategy


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

Past performance is not a guarantee of future results.

Virtus Investment Partners provides this communication as a matter of general information. The opinions stated herein are those of the author and not necessarily the opinions of Virtus, its affiliates or its subadvisers. Portfolio managers at Virtus make investment decisions in accordance with specific client guidelines and restrictions. As a result, client accounts may differ in strategy and composition from the information presented herein. Any facts and statistics quoted are from sources believed to be reliable, but they may be incomplete or condensed and we do not guarantee their accuracy. This communication is not an offer or solicitation to purchase or sell any security, and it is not a research report. Individuals should consult with a qualified financial professional before making any investment decisions.