U.S. inflationary pressures were down in August, as the U.S. future inflation gauge declined to 112.6 from an upwardly revised 113.0 reading in July, first reported as 112.6, according to data released Friday morning by the Economic Cycle Research Institute.
"The USFIG slipped in August, while staying near July's 97-month high," ECRI Chief Operations Officer Lakshman Achuthan said in a release. "Thus, inflation pressures remain in a cyclical upswing."
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.
