The last economic commentary

Good afternoon, this will be the last economic commentary I send to you from RBC WM’s headquarters in Minneapolis. I move to Chicago Monday and, in about 2 weeks, I will start sending these reports from our Chicago office.

If we ignore the temporary distractions caused by African revolts (irrationally affecting stocks), we can see that the economic calendar brings very good news. This is because the Department of Labor released its weekly Initial Jobless Claims report showing that first time claims were lower than expected last week, crossing below the 400,000 level to register 391,000. I expect a faster than anticipated drop in unemployment once this number crosses below the 385,000 mark.

Have a good rest of the week!

Rod