Markets

The MNI Chicago Business Barometer rose 1.4 points to 64.1in June, up from 62.7 in May, hitting the highest level since January.

The data suggest inflation is not retreating, with the year/year rate for the core measure jumping up to 2.0% and the PCE price index rising to 2.3%.

The May Midwest Economy Index slipped to 0.51 from an upwardly revised 0.55 in April.

Municipal market activity remained quiet Thursday afternoon wrapping up a week in which investors snapped up some large new issues.

The Illinois county plans a $175 million new money offering later this summer.

Texas will take its triple-A rating to the muni market with $240 million of refunding bonds for the state's water development program.

Deutsche Bank Securities and Central States Capital Markets agreed to settle with FINRA for a combined $80,000.

New York paper continued to be in high demand in front of the July 1 redemption date, according to a market source.

Respondents to the Federal Reserve Bank of Kansas City's monthly manufacturing survey reported stronger activity and optimism in June.

Initial jobless claims rose by 9,000 to 227,000 in the June 23 week, moving only slightly ahead of the tight range seen in recent weeks.