High-Freq Data Monitor - 2026-04-22

New claims miss for the first time in weeks, but only slightly, and at a very low number (the same number, in fact, as just before the attack on Iran). Forward earnings estimates continue to soar, and so far with 15% of S&P 500 companies reporting, this is the best earnings surprise season in five years. All good. Well, except for one thing. We have finally been able to fix our display of the "Truflation" real-time CPI estimate, which has been broken for the last month. It's not pretty, but at least it's right.