Markets

While the mood remained tentative on the last day of the week, the municipal market looks forward to the upcoming $7.5 billion of new supply headed its way.

The University of Michigan's final February consumer sentiment index reading was 99.7, compared to the preliminary February 99.9 and the final January 95.7, according to market sources.

The New York economy is expanding, but February’s pace was much slower than January’s.

In the week ended March 1, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index was unchanged from 4.01% the previous week. The BB40 Index is based on the price of 40 long-term bonds.

Municipal bonds held firm Thursday as one trader urged buyers to find opportunities by using an old basketball offensive philosophy.

New money sales made up for a drop in refundings, pushing the region past $95 billion of volume.

Municipal bonds were trading firmer Thursday as the last of the week's big deals came to market.

Construction spending was flat in January, falling short of the expected 0.3% gain.

According to the ISM's monthly report on business, the ISM index increased to 60.8 in February from 59.1 in January.

Initial claims U.S. state unemployment benefits fell by 10,000 to 210,000 in the February 24 holiday week.