U.S. JOBLESS CLAIMS: FRESH DROP HITS THE MARKET

▸ Initial Jobless Claims came in at 191K, sharply below expectations of 219K — signaling a still-resilient labor market

▸ Continuing Claims also slipped to 1.939M, below the projected 1.960M

▸ A tighter labor market often reduces the odds of aggressive rate cuts expect markets to reassess the path ahead

A clean beat across the board but not necessarily the kind bulls wanted.