Kansas City Federal Reserve Bank president Thomas Hoenig said yesterday that the U.S. economic outlook remains “uncertain” and markets are still under stress despite the timely action by the Fed and other policymakers.
However, Hoenig repeated his concerns about the reactive and ad hoc nature of policy responses, and the moves to save firms deemed “too big to fail,” which he said will have negative longer-term consequences.
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.
