Gary Siegel

The employment report showed 140,000 decline in nonfarm payrolls in December, but economists found some positives in the numbers.

It was inevitable that muni yields would need to rise somewhat as the UST 10-year broke above 1%, however participants said the supply/demand imbalance will keep munis from rising as quickly as Treasuries. More than $1 billion inflows reported.

FOMC members backed maintaining asset purchases, although “a couple” were “open” to “weighting purchases of Treasury securities toward longer maturities,” according to minutes released Wednesday.

Without the benefit of a larger new-issue calendar, secondary trading is likely to continue the theme of the final two months of 2020: more bidders than bonds.

Federal Reserve Bank of Chicago President Charles Evans says monetary policy will need to remain “accommodative for quite a while,” since inflation won’t hit a 2% average for “a long time.”

The Federal Reserve's Summary of Economic Projections forecasts inflation won't hit its 2% target next year, and others agree.

The Federal Open Market Committee announcement commits it to buying at least $120 billion of securities a month until “substantial further progress” is made on its dual mandate of stable prices and maximum employment, suggesting it will continue well into 2022.

The rising number of COVID-19 cases and the restrictions imposed to stop its spread, led to a pullback in consumer spending and has a regional service sector reeling.

The deal helped pave the way for the reopening of the capital markets for not-for-profit health systems amid the then-insurgent COVID-19 pandemic.

The 245,000 increase in nonfarm payrolls indicated a slowing, and with lockdowns rising, December's numbers could fall again.

Christopher Waller was confirmed to a seat on the Federal Reserve Board on Thursday by a 48-47 vote along party lines.

The consumer confidence index suggested expectations have slipped, and the Richmond Fed's services survey also offered a dim view ahead.

With rates at the effective lower bound, increased asset purchases will be the Fed’s main monetary policy easing tool going forward, and that's what analysts will be scanning the FOMC minutes for.

While the facilities' availability inspired market confidence, the fact that $455 billion remains unused suggests shutting down the programs is unlikely to cause major problems, analysts say.

The Federal Reserve’s changed policy framework is “an evolution, not a revolution,” according to Vice Chair Richard Clarida.

Bullard addresses coronavirus and the economy, University of Michigan consumer expectations drop.

The Conference Board's Employment Trends Index (ETI) gained to 97.57 in October from 96.33 in September, but remains 11.1% lower than a year ago, the group announced Monday.

The October employment report was stronger than predicted, with a 638,000 rise in nonfarm payrolls and a full percentage point decline in the unemployment rate, suggesting the economy continues to improve despite the rise in the number of COVID-19 cases.

Lynne Funk and Gary Siegel discuss how the election results will affect the municipal market, how the Fed moves forward and some winners and losers with bond ballot measure results and muni advocates who held onto their seats in Congress. (21 minutes).

As is usually the case, the largest bond deals appear headed for victory, although this year's tally seems to be slower than normal, given the COVID-19 pandemic.