Markets

The muni market was weaker again Friday, as yields followed Treasurys higher after government data showed strong job growth.

Moody's Investors Service boosted the city to B2 from Caa3 and assigned a positive outlook.

The muni market continued its recent trend of weakening everyday, while the October labor data was strong, with nonfarm payrolls jumping to 250,000 versus the expected number of 190,000.

The value of new factory orders rose 0.7% in September, above the 0.5% increase expected by analysts in an MNI survey.

New York City purchasing managers reported that employment reached another record high level in October.

The U.S. trade deficit widened more than forecast in September as imports expanded and the merchandise gap with China hit a record.

U.S. hiring rebounded by more than forecast in October, annual wage gains topped 3% for the first time since 2009 and the jobless rate held at a 48-year low

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, inched up to 4.26% from 4.25% the week before.

The muni market continued to weaken the day after Chicago pulled the biggest deal of the week.

The bonds for IndyGo are secured by a .25% local income tax approved by Marion County voters two years ago.