U.S. inflationary pressures were up slightly in February, as the U.S. future inflation gauge grew to 102.0 from a revised January 101.9 reading, first reported as 102.5, according to data released Friday morning by the Economic Cycle Research Institute.
"The USFIG remains below its summer highs," ECRI Chief Operations Officer Lakshman Achuthan said in a release. "Thus, underlying inflation pressures are still restrained."
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.
