Markets

Municipal market activity remained quiet Thursday afternoon wrapping up a week in which investors snapped up some large new issues.

The Illinois county plans a $175 million new money offering later this summer.

Texas will take its triple-A rating to the muni market with $240 million of refunding bonds for the state's water development program.

Deutsche Bank Securities and Central States Capital Markets agreed to settle with FINRA for a combined $80,000.

New York paper continued to be in high demand in front of the July 1 redemption date, according to a market source.

Respondents to the Federal Reserve Bank of Kansas City's monthly manufacturing survey reported stronger activity and optimism in June.

Initial jobless claims rose by 9,000 to 227,000 in the June 23 week, moving only slightly ahead of the tight range seen in recent weeks.

First quarter GDP growth was revised lower to a 2.0% annual rate from the 2.2% pace in the second estimate.

The water and wastewater deals will finance upgrades of the two systems.

Municipal bonds were stronger on Wednesday as bond buyers saw big deals come from New York and California issuers.