The federal government posted a $17.8 billion surplus in January, according to Treasury Department figures released yesterday.
The January surplus followed a December surplus of $48.3 billion. In January 2007, the federal government posted a $38.2 billion surplus.
IFR Markets predicted a $21.0 billion surplus for the month.
For the fiscal year to date, the government is running an $87.696 billion deficit, compared to a $42.165 billion shortage at this point last year.
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.
