Markets

The University of Michigan's final October consumer sentiment index reading was 98.6, compared to the preliminary October 99.0.

The U.S. economy expanded at a 3.5% pace in the third quarter as consumers opened their wallets, businesses restocked inventories and governments boosted spending.

In the week ended October 25, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index fell to 4.25% from 4.28% the previous week. The BB40 Index is based on the price of 40 long-term bonds.

The $240 million deal will also contain a mix of bonds subject to the alternative minimum tax with non-AMT bonds.

Municipals remained mixed as deals from Phoenix airport and Chicago issuers came to market.

The municipal securities market is slowly looking more like the stock market.

The pre-trade information available on alternative trading systems to broker-dealer participants would likely benefit all municipal securities investors if made more publicly available, the Municipal Securities Rulemaking Board’s chief economist said in releasing a report Thursday that is to be presented to a market structure advisory group next week.

Municipals were mostly stronger at mid-session as the last of the week’s big deals came to market.

Respondents to the Federal Reserve Bank of Kansas City's monthly manufacturing survey reported slower growth in October, with tariffs causing supply issues.

Pending home sales climbed 0.5% to an index reading of 104.6 in September, after a revised 1.9% fall to 104.1 in August.