Initial jobless claims slid 4,000 to 231,000 in the week ended Dec. 1, the Labor Department said Thursday.
The claims figure for the week ended Nov. 24 was 235,000. Continuing jobless claims were 1.631 million in the week ended Nov. 24, down 74,000 from 1.705 million the week before.
IFR Markets expected 225,000 initial claims.
The four-week average of initial claims was up 4,250 in the week ended Dec. 1to 228,000.
"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.
