WASHINGTON — Seasonally adjusted initial jobless claims declined 1,000 to 388,000 in the week ending April 21, while continuing claims rose 3,000 to 3.315 million in the previous week, the Labor Department reported Thursday.
The 388,000 claims were higher than the median estimate of 375,000 projected by economists polled by Thomson Reuters, and the 3.315 million continuing claims were higher than the estimated 3.290 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.
