Markets

Initial claims for jobless benefits, after seasonal adjustment, declined 2,000 to 236,000 instead of rising as the consensus expected in the May 6 week. Claims the previous week had gone down an unrevised 19,000. Before adjustment, claims in the current week rose 3,732.

The producer price index exceeded expectations in April as interest rates, hotel rooms, cigarettes and gasoline rose, the Labor Department reported Thursday.

Municipal bond prices ended stronger on Wednesday as traders saw more supply hit the market, led by issuers from Hawaii, Texas, New York, California and Pennsylvania.

The federal government ran a $182.4 billion surplus in April, the Treasury Department reported Wednesday.

Municipal bond prices were stronger at mid-session as traders saw more supply hit the market, led by issuers in California, New York and Pennsylvania.

Labor market “activity increased and momentum remained high in April,” as the Federal Reserve Bank of Kansas City Labor Market Conditions Indicators (LMCI) climbed to 0.40 in April from 0.28 in March, according to the Bank.

The municipal bond market will see a spate of new deals enter the market on Wednesday, led by issuers in Hawaii and Texas as well as California and New York.

U.S. import prices rose by 0.5% in April on a 1.6% gain in fuel prices and across-the-board increases in the non-fuel components, according to data released by the Bureau of Labor Statistics Wednesday.

Municipal bonds ended weaker on Tuesday as deals from Cuyahoga County, Wisconsin, Hawaii, the city of Los Angeles, San Francisco BART and the New York MTA hit the market.

WATERLOO, Iowa -- The city's plans to borrow $20.9 million next week will be among its largest annual bond issues ever.