US Initial Jobless Claims Fall to 199,000, Below 200,000 Forecast

The labor market continues to run hot, with initial claims dipping below the 200,000 threshold that typically signals a tight jobs market. For crypto and RWA markets, this reinforces the case for the Fed keeping rates higher for longer, a headwind for risk assets and tokenized yield products alike. The open question is whether this resilience persists if other data soften, or if it simply delays the pivot traders keep pricing in.