US initial jobless claims 240K vs 230K expected

• Prior was 227K (revised to 226K)
• Continuing claims 1919K vs 1894K expected
• Prior 1903K (revised to 1893K)

Nothing worrying here as the data continues to show a steady labour market. The continuing claims data pertains to the NFP survey week and it just made a new cycle high. That could translate into an uptick in the unemployment rate. Note that the data could get revised the next week though.