Initial jobless claims for the week ending October 5 were a seasonally adjusted 374k, the U.S. Department of Labor reports. This is a huge increase from the previous week’s revised reading of 308k and is due to the furloughs from the Federal government shutdown that began October 1. Jobless claims for the week not seasonally adjusted were 337k.
The insured unemployment rate for the week was a seasonally adjusted 2.2%, unchanged from the prior week’s revised reading.
Blue Mountain Credit Fund still in the red YTD; here are their biggest holdings
Blue Mountain Credit Alternatives Fund was up 0.36% for November, although the fund remains well into the red for the year. For the first 11 months, the fund was down 24.85% gross. Q3 2020 hedge fund letters, conferences and more Blue Mountain's fundamental credit strategy was up 0.63% for November, including a 1.09% gain for Read More
The number of unemployment insurance recipients, or continuing claims, was a seasonally adjusted 2.905 million, a decrease from the prior week’s revised reading of 2.921 million.