The overall economy grew for the 34th straight time, while the manufacturing sector expanded for the 32d time, the Institute for Supply Management reported Monday.
According to the ISM’s monthly report on business, the ISM index climbed to 53.4 in March from 52.4 in February.
Economists polled by Thomson Reuters predicted the index would climb to 53.0.
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.
