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US labour market: Claims and wages come into focus – UBS

US initial jobless claims may attract attention amid a subdued data calendar, with housing figures also due, according to Paul Donovan at UBS.

Jobless claims may attract attention alongside wage-price risks

"US initial jobless claims data may get some attention in an otherwise relatively quiet data calendar."

"US policy-makers would have to be concerned if there were evidence of a really tight labor market, creating a wage-price spiral."

"However, in spite of repeated inflation shocks, that has not emerged."

"Housing data is also due."

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