Some unfortunate news from America, as it is reported that tens of millions of Americans have now filed for unemployment in the recent week and although this article does not make for light reading – some silver lining is that jobless claims have declined from their peak, which was earlier this month.

“I think it’s almost confirmation of the recent trend that we’ve been seeing as of late, resetting of expectations, things will continue to look bad, but it’s all about expectations—and what we’re seeing are things looking less bad for the last couple of weeks.” – Peter Essele, Head of Portfolio Management For Commonwealth Financial Network.