Markets

Municipal bond traders on Friday are looking ahead to next week’s new issue slate as yields began the session largely unchanged.

The value of retail sales rose 1.6% in September and were up 1.0% excluding motor vehicle sales following upward revisions in July and August.

The Consumer Price Index rose 0.5%, slightly below expectations for a 0.6% gain, while core CPI rose only 0.1% compared with a 0.2% expected gain, the Bureau of Labor Statistics said on Friday.

In the week ended Oct. 12, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index slipped to 4.02% from 4.03% the previous week. The BB40 Index is based on the price of 40 long-term bonds.

The city is looking for banks to lead a tender offer and refunding of bonds issued as part of its bankruptcy exit.

The law provides increased revenue-raising flexibility for storm water management.

Top-quality municipal bonds ended stronger on Thursday as more than $3 billion of transportation deals hit the market.

UBS Wealth Management Americas continues to fill out its re-emerging public finance practice, adding three more new-hires in Dallas, Los Angeles and New York.

The county must move to replace the lost revenue, the rating agency says.

Moody’s downgraded $31 billion in Puerto Rico public sector bonds citing the reduced outlook for repayment.