Markets

In the week ended Nov. 29, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, fell to 4.21% from 4.23% last week.

The municipal market saw the last significant issuance come and go swiftly, closing out the week on a high note.

Voters in the Southern California rejected a water and wastewater rate increase, and a subsequent rate hike triggered an unsuccessful recall election.

Milwaukee-based Baird said it will expand its public finance footprint into new markets when it closes on the purchase next year.

The muni market was getting stronger yet again on Thursday, as one of the week's biggest hit the screens.

Pending home sales fell 2.6% to an index reading of 102.1 in October, after a revised 0.7% rise to 104.8 in September.

Initial claims for U.S. state unemployment benefits were up 10,000 to 234,000 in the Nov. 24 holiday week, well above the 220,000 level expected.

Nominal personal consumption expenditures rose 0.6% in October while core PCE prices were up 0.1% for the month, slowing the year/year rate to 1.8%.

Dearborn plans to price $35 million of bonds and Muskegon County plans $45 million.

Three of the four index components declined from September.