The imbalance in the current account decreased in the fourth quarter to $132.8 billion from a revised $181.3 billion in the third quarter, previously reported as a $174.1 billion deficit, the Commerce Department reported yesterday.
The fourth-quarter gap was the smallest since a $126.4 billion deficit in the fourth quarter of 2003.
Thomson Reuters’ poll of economists predicted a $136.7 billion deficit.
With billions of federal funding available from the Infrastructure Investment and Jobs Act, one observer says it could be limiting the amount of municipal bonds issued by the sector.
Teague, most recently an executive director of the municipal securities department at Morgan Stanley, will focus on surface transportation.
Steven Mahr moved to Chicago two years ago, and in March, he moved from Stifel to the city's finance department, where he's now happily tackling tough problems.
S&P Global Ratings joined Moody's in assigning a negative outlook to its triple-A rating, but a criteria change pushed Fitch's rating of the city up to AAA.
Inflows returned to muni mutual funds as investors added $200.3 million for the week ending Wednesday after $1.474 billion of outflows, according to LSEG Lipper.
Democratic Gov. Laura Kelly nixed another tax cut bill passed by the Republican-led legislature this year, while pushing a less-costly plan.
