Markets

The Investment Company Institute reported $974 million of inflows into municipal bond mutual funds in the week ending Nov. 23, down from $1.430 billion in the previous week.

Powell says the FOMC will consider ramping up tapering when more information about Omicron and its impacts are known, further flattening the UST yield curve.

The Build Back Better Act contains provisions that could help states finance additional affordable homes.

The governor wants to use savings to address the islands' $3.3 billion pension underfunding.

Economists appear to be less concerned about Omicron, with some saying that even if the variant causes another pandemic wave, it is more likely to "slow rather than interrupt" the global economic recovery.

A majority of firms anticipate less volume in 2022 than the record hit in 2020, but how policies from Washington and the path of overall economic activity in a still-recovering global economy with COVID overhang make predicting volume more difficult.

Municipal yields fell as much as three basis points on Friday as Treasuries soared in a flight-to quality bid as stocks plunged on fears about the emergence of a new COVID variant.

ICI reported $1.43 billion of inflows into municipal bond mutual funds in the week ending Nov. 17, down from $1.61 billion in the previous week.

Michelle Wu's election was an exception at the local level as voters rejected hard-left candidates and initiatives.

With the leadership questions mostly answered, the Fed must figure out what to do about inflation. The markets expect the Fed will have to raise rates sooner than planned, and perhaps speed up taper to do so.