US jobless claims increased 11k to 235k last week, ahead of expectations of 225k claims and an 8-week high.

• Not seasonally adjusted initial claims actually fell -4.5k to 194.9k and were mostly n line with the total a year ago at 192.5k
• Continued claims ticked up 30k to 1.972 million, also ahead of expectations and a new roughly 3.5-year high.
• The insured unemployment rate remained unchanged at 1.3% last week but was up 0.1 ppts from a year ago.
• Federal employee claims remained elevated at 635, up from 337 a year ago.