Markets

Wells Fargo Securities announced the additions of Randy Campbell and Jim Perry to its public finance team, both jumping over from Morgan Stanley.

The judge said plaintiffs didn't allege Snyder knew about the dangers of the water in Flint River when he authorized the switch to using it.

The market was quiet on Friday ahead of a $7.5 billion new issue calendar as more than $50 billion in August redemptions frees up cash to buy bonds.

Municipal bond buyers will get to see a larger than average new issue slate.

The State Bond Commission approved a $10 million study on reviving tolls against a backdrop of revenue strain and regional dynamics.

The U.S. services sector expanded at a slower pace in July as the non-manufacturing index fell to 55.8 from 59.1 in June.

The U.S. trade deficit grew in June for the first time in four months as imports increased and the value of shipments overseas declined.

U.S. hiring cooled in July after more-robust gains than previously reported, while the unemployment rate slipped back below 4%.

In the week ended August 2, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index rose to 4.01% from 3.99% the previous week. The BB40 Index is based on the price of 40 long-term bonds.

Municipals were mixed on Thursday as the bond markets await Friday’s release of July’s employment report.