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!