WASHINGTON — Initial claims for U.S. state unemployment benefits rose by 8,000 to 225,000 in the Feb. 23 week.
However, the four-week moving average fell by 7,000 to 229,000 as the recent peak of 253,000 rolled out of the calculation.
Continuing claims rose by 79,000 to 1.805 million in the Feb. 16 survey week, up 91,000 from the Jan. 12 survey week.
The claims data suggest that while initial claims remain at low levels, the level of insured unemployed has risen.
"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.
