US jobless claims just dropped to 199K versus the expected 218K—that's notably better than last week's 215K. Meanwhile, continuing claims fell to 1866K, beating forecasts of 1902K and down from 1913K previously.

What does this signal? A tightening labor market usually means steady consumer spending, which can influence Fed policy and bond yields—both critical for risk assets. Stronger-than-expected employment data could push markets to recalibrate rate expectations, potentially shifting capital flows into crypto and equities. Keep an eye on whether this sustains or if we see volatility shift.