Markets

Municipals were little changed on Thursday as the supply surge continued ahead of the U.S. elections.

Jobless claims fell to below 800,000, existing home sales soared, leading indicators rose more than expected and the Kansas City Fed manufacturing index also climbed in the latest reading.

The No Place Like Home bonds, backed by a long-standing income tax surcharge, fund supportive housing for homeless people with mental health issues.

The current deal deluge is causing a minor yield pullback, but levels have been steadier than many probably thought, trader said.

Favorable sale results compared to recent secondary trading levels prompted MMD to narrow Illinois' spreads on average by 10-30 basis points across the curve with the short-end seeing the biggest improvement.

CommonSpirit's deal marks the next phase in managing the combined debt porfolio of CHI and Dignity.

Municipals weakened as supply surged into the market, with AAA yields up by as much two basis points on longer-dated maturities.

Housing starts and building permits both rose in September, as the housing market remains the "best part of the U.S. economy."

The coronavirus pandemic took its toll on Hawaii's credit rating Monday as Fitch cuts the Aloha State's GOs to AA. NYC TFA announces $1.1B sale for next week.

Despite "robust" progress, it will take "some time" for the economy to return to pre-pandemic levels, according to Fed Vice Chair Richard Clarida.