for the week ended September 19, missing the economist estimate of 840,000 claims. Nonfarm payrolls data slated for release on Friday is expected to show the unemployment rate fall through September, but by a much smaller amount than in months prior.climbed by just 0.6% in AugustInvestors' moves to safe havens are even more justified when looking ahead, Draho said.
In all, concerns of slowing economic growth"are likely to linger for at least a couple of months," Draho said. The upcoming election is set to push volatility higher, and uncertainties around the rollout of a coronavirus vaccine will keep some from returning to financial markets. Risk appetites could improve in early 2021 if Congress passes new stimulus and a vaccine wins regulatory approval, but investors shouldn't get their hopes up for a near-term reversal from last week, Draho said.
"For now, expect structurally high growth uncertainty to keep volatility elevated and delay a sustained rotation towards more economically-sensitive assets," he added.
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