Sales of new single-family homes rose 1.7% to a 728,000 seasonally adjusted annual rate in October, according to data released by the Commerce Department yesterday. The October figure came after a downwardly revised 716,000 rate in September, originally reported as 770,000. IFR Markets’ poll of economists had predicted a 753,000 sales level for October.Sales of new homes were 23.5% below the 952,000 rate in October 2006, Commerce said. The supply of new homes at the current sales rate slid to 8.5 months from 9.0 months in September.
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"Bond market investors are all wishing that April was behind us as they are anxious to hear the Fed's statement at its next FOMC meeting," noted BofA Global Research. "The statement should be no surprise as the market consensus has converged to 'higher for longer' rates.
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CDIAC's revamped website, which launches May 1, will offer accessibility to state and local debt from issuance through maturity; and the ability to create summary reports based on search features.
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The Governmental Accounting Standards Board is looking for feedback on disclosure requirements related to infrastructure projects.
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The MSRB is warning investors that the redemption of Build America Bonds under an extraordinary redemption provision could result in losses, especially for those purchased at a premium.
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With billions of federal funding available from the Infrastructure Investment and Jobs Act, one observer says it could be limiting the amount of municipal bonds issued by the sector.
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Teague, most recently an executive director of the municipal securities department at Morgan Stanley, will focus on surface transportation.
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