I have forever talked about 2's 5's being my "Financial bible" but historically the "Leader" of the 2's 5's turn has been....Initial Claims.
Today's number is just one number but if repeated or higher in the weeks ahead would suggest more concern.
In today's number 15 states reported 4 digit increases with Florida in 5th place . The top 5 were Michigan +9,490, North Carolina + 8,534, California +4,484. Ohio + 4,328, Florida + 3,842. Last week that number of double-digit rises was 1, the week before ZERO and the week before 3.
The biggest drop was just -140 (Louisiana).
Watch this space in the weeks ahead
As we stand today, we have a danger of an outside day lower on the US 2-year yield (Close under 3.937%) and also higher on the 2's 5's curve (above minus 9.8 bp's), the 2's 10's curve (above +7.7 bp's) and the 2's 30's curve (above 36.6 bp's)
