WASHINGTON — Construction spending was up 1.5% to a seasonally adjusted estimated annual rate of $816.4 billion in December, the highest level since April 2010, when it was $819.7 billion, the Commerce Department reported Wednesday.
The December rate was up from the revised November estimate of $804.0 billion and 4.3% above the December 2010 estimate of $782.9 billion.
Economists polled by Thomson Reuters had predicted a median 0.7% increase in the rate from November to December.
"Bond market investors are all wishing that April was behind us as they are anxious to hear the Fed's statement at its next FOMC meeting," noted BofA Global Research. "The statement should be no surprise as the market consensus has converged to 'higher for longer' rates.
CDIAC's revamped website, which launches May 1, will offer accessibility to state and local debt from issuance through maturity; and the ability to create summary reports based on search features.
The Governmental Accounting Standards Board is looking for feedback on disclosure requirements related to infrastructure projects.
The MSRB is warning investors that the redemption of Build America Bonds under an extraordinary redemption provision could result in losses, especially for those purchased at a premium.
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.
