Jobless claims jump to 261K, estimates were for 232K rise. Unemployment may not set off deflation, inflation is already imbedded at multi decade highs. Markets are too locked into habitual Central Bank stimulus. May end up being disappointed.

This is an interesting chart documenting inflation and jobless claims going back to the early 1970's.  In light of the recent U.S. jobless claims number, that came in at a slight spike of 261 thousand as opposed to the estimates of 232K with inflation stuck at two decade highs.  If history is anything to go by and it is a lesson seldom learned.  Inflation may have not actually peaked out as yet, but could return to its highs, if supply chains/geopolitical and/oil price becomes an issue again.  Jobless rates may reach 600 thousand plus levels even with high inflation.