NEW YORK - U.S. inflationary pressures were unchanged in November, as the U.S. future inflation gauge held at 98.3 from a revised 98.3 in October, originally reported as 99.2, according to data released Friday morning by the Economic Cycle Research Institute.
“Since its March peak, the USFIG has remained in a cyclical downswing, and is now hovering around its lows for the year. Thus, inflation pressures remain subdued,” ECRI Chief Operations Officer Lakshman Achuthan said in a release.
Brodie Killian has moved to PFM from Stifel Nicholas & Co., joining its Ann Arbor office as a director.
April continues to be "harsh" for munis as the asset class has given up roughly 72 basis points in the first two weeks of the month, said Jason Wong, vice president of municipals at AmeriVet Securities.
The city may have to make deeper cuts next year if voters don't approve two tax increases headed for the November ballot, if the City Council approves.
The most recent open solicitation period, last October, yielded three proposals.
Treasury representatives said Friday that they will be issuing further guidance to help counties deal with the upcoming reporting and compliance deadlines.
"We were originally thinking that we would offer five-, seven- and 10-year maturities, with $500 million in each tranche. But we decided today to just offer 5s and 10s — $500 million of five-year bonds and $1 billion of 10-year bonds," said Ben Watkins, Director of Florida's Bond Division.
