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The market expectations for weekly initial unemployment claims (from Bloomberg / Econoday) were 237 K to 245 K (consensus 240,000), and the Department of Labor reported 258,000 new claims. The more important (because of the volatility in the weekly reported claims and seasonality errors in adjusting the data) 4 week moving average moved from 239,000 (reported last week as 237,250) to 240,000. The rolling averages generally have been equal to or under 300,000 since August 2014.