Markets

Personal income increased 0.9% in September after a 2.5% decline in August, the Commerce Department reported Friday, while personal consumption grew 1.2% after a 0.7% gain in August.

Moody’s on Thursday joined Fitch and S&P Global Ratings in moving the city’s rating outlook to negative. It has rated Chicago at speculative grade since 2015.

New Jersey said it expects to issue up to $4.5 billion of tax-exempt and taxable bonds the week of Nov. 18 under the COVID-19 Emergency Bond Act.

Gross domestic product surged in the third quarter's first read, but analysts suggest the rising number of coronavirus cases bodes ill for fourth quarter growth.

By putting a negative outlook on its BBB-minus rating, Fitch leaves Chicago little room to avoid being saddled with a second speculative-grade rating.

Detroit's public school system believes the city's stand-alone bond sales bode well for its future market access should it eventually seek to borrow.

Taxables march on while ICI reports billions of inflows and secondary trading shows long-end strength.

South Carolina-owned utility Santee Cooper issued A-rated revenue and refunding bonds that achieved $134 million in net present value savings and drew $3.5 billion in orders from yield-starved investors.

In an all new money deal, North Carolina plans to issue debt for its Build NC statewide transportation financing program.

Consumers cut back on purchasing plans, suggesting they see a tough fourth quarter, economists said.