WASHINGTON — Initial claims for U.S. state unemployment benefits rose by 8,000 to 225,000 in the Feb. 23 week.
However, the four-week moving average fell by 7,000 to 229,000 as the recent peak of 253,000 rolled out of the calculation.
Continuing claims rose by 79,000 to 1.805 million in the Feb. 16 survey week, up 91,000 from the Jan. 12 survey week.
The claims data suggest that while initial claims remain at low levels, the level of insured unemployed has risen.
"The forces of municipal fundamental and technical measures are setting up a reconciliation against higher UST yields," said Kim Olsan, senior vice president of municipal bond trading at FHN Financial.
The environmental clearance marks a regulatory milestone, but major funding shortfalls remain.
July will see $35.2 billion of redemptions, down 13% month-over-month but still 35% higher than 2024's monthly average of $27 billion, said Pat Luby, head of municipal strategy at CreditSights.
After the west abutment on the Rapidan Dam partially failed last week, it's up to the Blue Earth County board of commissioners to pursue repair or removal.
The Contra Costa County Office of Education gave West Contra Costa Unified School District until July 17 to pass a budget, or have the county office step in.
"With a nonexistent new-issue calendar and heavy dealer balance sheets, we expect the muni market to get a bit 'grabby' over the next few weeks," AllianceBernstein strategists said.
