WASHINGTON — Initial jobless claims declined by 2,000 to 212,000 in the August 11 week, below the 214,000 level expected.
As a result, the four-week moving average rose by 1,000 to 215,500, but could fall by 1,250 in the August 18 week as the 217,000 level in the July 21 week rolls out of the equation.
Continuing claims fell 39,000 to 1.721 million in the August 4 week, while the four-week moving average for continuing claims fell by 8,000 to 1.7385 million.
"In our view, the worst for munis is behind us, at least for now; tax-exempts might continue to outperform, but only to a degree as technicals will remain somewhat challenging," Barclays strategists said.
"I'm worried about rates," muni market strategist Vikram Rai said during a webinar Thursday.
The Chicago City Council passed Mayor Brandon Johnson's green affordable housing plan, to be seeded with $135 million from 2024's $1.25 billion bond ordinance.
Public power energy providers are moving forward with using elective pay to boost investment in nuclear energy while electrifying small town and rural areas.
The state's legislative analyst's office expects revenues for the fiscal 2025-26 budget year to be $7.8 billion lower than estimated in January.
The municipal bond market may soon get its first glimpse of hotly anticipated tax legislation.
