Markets

As the municipal market prepares for a busy week with big-name issues coming to market, industry analysts are already looking to what 2019 might have in store.

Texas factory activity growth, as measured by the production index, “continued to expand in November, albeit at a markedly slower pace.”

The firm, recapitalized in April, is building out its municipal market presence.

2018 hasn’t been the best or most active year but things are looking up after midterm elections, with what is expected to be a more pro-muni House. Volume this year is looking like it might be the lowest since 2011, but perhaps the new year will bring an infrastructure plan, where munis are expected to be a big component.

The Chicago Fed National Activity Index for October rose to 0.24 from a downwardly revised 0.14 in September.

After a week that offered under $1 billion of deals, the market will look ahead to almost $6 billion of supply.

Chicago Public Schools is selling more than $1 billion of GOs, capital improvement tax bonds, and notes.

Tom Wolf's full plate includes a projected $1.7 billion deficit, with the state having already used one-time revenue measures such as tobacco and gambling.

Fires haven't sparked a secondary-market sell-off, as investors "are either unconcerned or don't fully understand" the extent of the damage.

Even as stocks turned higher on Wednesday, municipal bonds remained stronger before the Thanksgiving holiday.