The US economy expands by 2.1% in the second quarter while lower-than-anticipated initial claims signify a competitive job market.

Thursday’s economic data included significant highlights: the U.S. economy had a 2.1% annualized growth rate in Q2, and jobless claims increased less than expected from the previous week, staying close to a nine-month low. Treasury yields continued to rise, with the iShares 20+ Year Treasury Bond ETF opening weakly on Thursday, set for its worst month since April 2022.