MARKET DAILY

Market 12/28: Update on labor market and housing market in the last week of 2023

Labor market in 2024 is likely to deteriorate soon. Pending home sales at historic low. Bond yields cool across the board.

Initial jobless claims for the week before Christmas increased +12,000 to 218,000, higher than expected but still near historic lows.

Companies are quite hesitant to cut staff - labor demand remains stable.

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