Markets

On Friday, municipals finished little changed, with yields remaining steady along most of the AAA GO scales.

The U.S. current account deficit widened to $170.5 billion in the second quarter from a revised $111.5 billion gap in the previous quarter, data released Friday by the Commerce Department showed.

The new-issue market saw deals from Houston, the Illinois Finance Authority and the City and County of San Francisco, Calif., hit the screens.

Jobless claims declined, but remain elevated, housing starts and building permits also slid, while manufacturing in the Philadelphia region expanded at a slower pace.

Duane McAllister and Lyle Fitterer of Baird talk with Chip Barnett about low rates and credit quality. They discuss the best scenarios for investors and issuers in these challenging times. (20 minutes)

Most panelists don't expect rates to budge in the three-year projection horizon.

Five specialists from the former BB&T Capital Markets, now part of Truist, are moving to Hilltop Securities.

Secondary trading picked up somewhat while the new-issue market saw a large amount of taxables in the negotiated space while Pennsylvania competitively sold $470 million of general obligation bonds.

With its ratings intact as it navigates the pandemic's impact, the large Illinois system is issuing new money and refunding bonds

Potential fiscal fallout from the police killing of George Floyd and the pandemic's economic strains brought a negative outlook to the city's AAA S&P rating.