The producer price index for finished goods rose 1.7% in August on a seasonally adjusted monthly basis, more than double the median estimate, as energy prices jumped, the Labor Department reported yesterday.
Core prices, which exclude food and energy, rose 0.2% in August and are 2.3% higher than a year ago.
Economists expected producer prices to rise 0.8% and for core prices to rise 0.1%, according to the median forecast from Thomson Reuters.
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.
