February 20, 2025
United States:
US Jobless Claims Tick Up Slightly, in Line With Pre-Covid Level
Applications for US unemployment benefits were little changed last week, hovering around pre-Covid levels that indicate solid demand for workers.
Initial claims increased by 5,000 to 219,000 in the week ended Feb. 15, according to Labor Department data released Thursday. The median forecast in a Bloomberg survey of economists called for 215,000 applications.
Europe:
ECB Posts Record Loss Driven by Interest Bill for Past Policies
The European Central Bank reported a record loss in 2024, a result of its aggressive policy responses to surging inflation and past periods of weak price gains.
Last year’s shortfall amounted to €7.94 billion ($8.3 billion) as interest expenditures exceeded income generated by bonds purchased when borrowing costs were low.
Asia:
Yen Advances Past 150 per Dollar as BOJ Rate-Hike Bets Ramp Up
The yen hit its strongest level against the dollar since December, outperforming other major currencies on Thursday amid growing speculation the Bank of Japan will hike rates sooner rather than later.
Japan’s currency traded at 150.14 against the dollar as of 6:33 a.m. in New York after climbing as much as 1% to 149.95 earlier, a level it hasn’t touched since Dec. 9. Government bond yields also rose, with the 10-year benchmark hitting its highest level since 2009.
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