Industrial production in the nation was down 1.1% in August while capacity utilization fell to 78.7, according to data released by the Federal Reserve Board yesterday.
The drop in production level followed a 0.1% increase the previous month, originally reported as a 0.2% rise, while July capacity use was a revised 79.7.
IFR Markets had forecast a 0.3% decline for production and a 79.5% level for capacity utilization.
A combination of a "stronger-than-expected economy, higher Treasury rates, robust supply, and rich valuations resulting in choppy markets" have made the trading environment in H124 "quite difficult," according to Barclays.
Two rating agencies upgraded Los Angeles Unified School District's bond ahead of multi-billion dollar refunding.
The Basel III Endgame proposal to restructure capital holding levels comes under fire.
Friday price talk for the unrated tax-exempt paper was between 11% and 15%.
The board approved that step at its second quarter board meeting held this week.
The Inflation Reduction Act, affordable housing and clean energy were among the topics discussed at Baker Tilly's DevelUP conference in Chicago this week.
