Markets

The municipal bond market will see a shortage of new supply going into the new year, after experiencing a record-breaking month in which more than $61 billion of bonds sold.

Municipal utility districts on the Texas coast enter 2018 with a stable outlook, according to S&P.

While the new tax law may portend a difficult year for the municipal market, higher short-term rates and low supply should propel demand in 2018.

The seasonally adjusted Milwaukee Report on Business increased to 65.57 in December from 59.62 in November, the Institute for Supply Management-Milwaukee reported Friday.

The Midwest Economy Index reversed to positive 0.22 from a revised negative 0.11 in October, first reported negative 0.12, the Federal Reserve Bank of Chicago said Friday.

In the week ended Dec. 28, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index fell to 3.91% from 3.93% the previous week. The BB40 Index is based on the price of 40 long-term bonds.

With the primary market at a standstill Thursday, attention turned to the first major deal of the New Year, a planned sale by the New Jersey Economic Development Authority that’s being challenged in court.

While there are no major bond issues on the slate for Thursday, one deal that is garnering some attention is next week's $381 million offering from the New Jersey Economic Development Authority

The Chicago Business Barometer rose to 67.6 in December, its highest since March 2011.

Initial jobless claims remained at 245,000 in the week ended Dec. 23, the Labor Department said Thursday.