WASHINGTON — The U.S. December personal income report shows little momentum in the economy.
December personal income printed up 0.5%, personal consumption expenditures rose 0.2% — the smallest gain since September 2006, illustrating the economic slowdown — and core PCE prices climbed 0.2% for a steady 2.2% increase over the year.
These data are already incorporated into the fourth quarter GDP report, which showed very slow 0.6% real growth.
— Market News International
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.
