WASHINGTON — There were 422,000 initial claims for unemployment insurance in the week ending May 28, down 6,000 from the previous week’s 428,000, the Labor Department reported Thursday.
Continuing claims fell to 3.711 million in the May 21 week, following a revised 3.712 million the week before.
Economists were looking for 416,000 new claims and 3.670 million continuing claims based on the median estimate of the Thomson Reuters poll.
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.
