The Labor Department reports new applications for unemployment benefits rose by 6,000 last week to 244,000. Economists expected 237,000. Continuing claims fell by 17,000 to 2.06 million the week ended February 11. New claims have stayed below 300,000 for 103 straight weeks, the longest patch since Richard Nixon was president.
Freddie Mac reports the 30-year fixed-rate mortgage averaged 4.16% this week, up from last week’s 4.15%. A year ago ait was 3.62%. The 15-year fixed averaged 3.37% up from 3.35%. A year ago it was 2.93%.
Treasury Secretary Steven Mnuchin said that that he’s in no rush to label China a currency manipulator, delaying a campaign promise of President Trump. As part of his plan to “Make America Great Again,” Trump pledged to slap China with 45% import tariffs and declare it a currency manipulator on Day 1. Mnuchin said in an interview on CNBC: “We have a process within Treasury where we go through and look at currency manipulation across the board and we’ll go through that process,”
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
