WASHINGTON — Initial jobless claims fell by 6,000 to 213,000 in the August 4 week, below the 220,000 level expected.
As a result, the four-week moving average fell by 500 to 214,250, but could rise by 1,250 in the August 11 week as the decades-low 208,000 level in the July 14 week rolls out of the equation.
Continuing claims rose 29,000 to 1.755 million in the July 28 week, while the four-week moving average for continuing claims rose by 3,000 to 1.745 million.
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.
