New factory orders for manufactured goods surged 1.5% in November, the Commerce Department said yesterday. The factory order increase, a $6.181 billion rise to $430.3 billion, outpaced the 0.5% increase projected by IFR Markets and came after a revised 0.7% increase to $424.1 billion in October, originally reported as a 0.5% increase to $423.5 billion. Excluding transportation, the level of all new manufacturing orders rose 1.4% to about $367.0 billion in November, following a 0.7% rise in October to $361.7 billion. The increase compared to a 0.6% increase projected by IFR Markets. Excluding defense, new orders rose 2.1% to $422.8 billion, following a 0.7% increase to $413.9 billion in October. New orders for durable goods slid 0.1% to $214.0 billion in November, while orders for non-durable goods rose 3.0% to $216.3 billion in the month. Inventories increased 0.8% to $524.4 billion, while the inventory to shipment ratio fell to 1.22 in November from 1.23 in October.
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A $327 million competitive bond deal, including $35 million of taxables, will fund renovations to the stadium and a new football operations building.
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The University repriced to lower yields up to 15 basis points Wednesday while Illinois accellerated its pricing of its tax-exempt GOs and were repriced yesterday afternoon with bumps of 10 to 13 basis points and saw $1.5 billion of retail orders alone.
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California lawmakers asked the high court to intervene on the measure headed for November's ballot.
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Immigration effects in municipalities are seen as pros and cons
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A state judge issued a temporary injunction against enforcement of the Energy Discrimination Elimination Act, which has led to the ban of seven financial firms, including four big municipal bond underwriters, from government contracts.
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"One big challenge is the amount of advocates that we've had in Congress that will be retiring or no longer running for re-election," said SIFMA's Leslie Norwood.
May 8