WASHINGTON — Seasonally adjusted initial jobless claims dropped 12,000 to 377,000 for the week ending June 2, while the number of continuing claims climbed 34,000 to 3.293 million for the previous week, the Labor Department reported Thursday.
The 377,000 initial claims were equal to the median estimate projected by economists polled by Thomson Reuters, and the 3.293 million of continuing claims came in above the economists’ median estimate of 3.240 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.
