Markets

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, was unchanged from 4.13% the week before.

The municipal market held firm on Thursday, as new issuance for the year ground to a near halt amid demand for safe investments.

Legal and accreditation problems led Fitch Ratings to lower its rating on the Florida HBCU six notches to CCC-plus.

Fresh off another 25 basis point increase in the fed funds rate, the muni market firmed again, with new issuance pretty much curtailed until the New Year.

BondLink is teaming up with Municipal Market Analytics to deliver bond market research to BondLink issuer clients.

The composite of the Leading Economic Index was up 0.2% in November following a downwardly revised 0.3% drop in October.

Initial claims for U.S. state unemployment benefits rose by 8,000 to 214,000 in the December 15 survey week, well below expectations for a 225,000 level.

Manufacturers report expansion “continued to grow but remained subdued” in December.

The Federal Open Market Committee cut its projection for next year to two rate increases from three.

An improved Philadelphia economy drove the city’s long-struggling school district to an investment grade rating from Moody’s Investors Service.