The University of Michigan’s preliminary May consumer sentiment index reading was 72.4, up from the final April 69.8 reading, the preliminary April 69.6 and the final March 67.5, according to market sources.
Economists polled by Thomson Reuters had predicted a 70.0 reading for the index.
The expectations index was 67.4, up from 61.6 in April, 61.2 earlier in April, and 57.9 in March.
The current conditions index was 80.2, compared to 82.5 in April, 82.7 earlier in April, and 82.5 in March.
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.
