March 16, 2017
Hiring is up, jobless claims are down, and housing is chugging along. JOLTS data show a narrowing in the stubborn gap between job openings and hiring in what could hint at wage inflation. And employers are definitely holding on to their employees based on the deep lows for claims. Permits for single-family homes are up while homes under construction are at a high for the economic cycle.
The stock market held steady with the Dow posting a fractional loss to 20,934. Rates bounced higher after yesterday's post-FOMC dip with the 2-year yield up 4 basis points to 1.34 percent. Gold moved higher, up $25 to $1,226.