WASHINGTON — Initial claims for unemployment insurance gained 10,000 to 424,000 in the week ending May 21, the Labor Department said Thursday.
A revised 414,000 new claims were made in the week ending May 14.
Continuing claims reported Thursday were 3.690 million for the May 14 week, down from the revised 3.736 million for the previous week.
Economists expected 400,000 new claims and 3.700 million continuing claims.
A combination of a "stronger-than-expected economy, higher Treasury rates, robust supply, and rich valuations resulting in choppy markets" have made the trading environment in H124 "quite difficult," according to Barclays.
Two rating agencies upgraded Los Angeles Unified School District's bond ahead of multi-billion dollar refunding.
The Basel III Endgame proposal to restructure capital holding levels comes under fire.
Friday price talk for the unrated tax-exempt paper was between 11% and 15%.
The board approved that step at its second quarter board meeting held this week.
The Inflation Reduction Act, affordable housing and clean energy were among the topics discussed at Baker Tilly's DevelUP conference in Chicago this week.
