Markets

The New York economy started 2018 with a bang as the current conditions index surged to a level not seen in more than a decade.

The January employment report released Friday showed nonfarm payrolls rose by a stronger-than-expected 200,000.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, rose to 3.94% from 3.88% last week.

Worries about a future interest rate hike couples with a rise in Treasury issuance pressured muni yields Thursday.

Brian Brewer will be the firm's public finance director following the retirement of longtime manager Keith Kolb.

Bank of America Merrill Lynch won a large note sale in the primary sector on Thursday as the market eyes bond yields, which have been on a tear since the beginning of the month.

The municipal bond market is focusing its attention on Thursday on rising bond yields a day after the Federal Reserve signaled it could raise interest rates at its next meeting in March.

Construction spending was up 0.7% in December, above the expected 0.5% gain, mainly due to the 0.8% gain in private construction spending.

The overall economy grew for the 105th straight time, the Institute for Supply Management reported Thursday.

Nonfarm productivity fell 0.1% in the preliminary estimate for the fourth quarter, compared with expectations for a 0.7% gain.