Markets

Initial claims U.S. state unemployment benefits fell by 2,000 to 210,000 in the August 18 week, below the 215,000 level expected by analysts.

Illinois offered top yields to draw strong demand for its $966 million general obligation refunding.

Both the big Illinois bond deal and the giant Texas note sale were warmly received by investors Wednesday.

The bonds will pay for renovations and the addition of a new building.

Moody's Investors Service dropped Beloit College's rating two notches to Ba1 from Baa2.

The region's volume numbers were supported by favorable market conditions that drove several large gas prepay deals.

Illinois came to market on Wednesday with over $900 million of bonds while Texas sold a massive note deal in the competitive arena.

The commonwealth also intends to offer $765 million of GO bonds and $160 million of Clean Water Trust bonds.

Existing home sales fell 0.7% to a seasonally adjusted 5.34 million-unit rate in July.

Two of three sales in Connecticut’s recent bond offering set record retail orders, said state Treasurer Denise Nappier, while spreads continued to drop.