Markets

The proposed rules would be updated to cover all PABs and recognize electronic communications.

Top-shelf municipal bonds were weaker again on Thursday amid ripple effects from the tax reform news announced the day prior.

The rating agency says Assured Guaranty and Build America Mutual are open to a traditional bond refinancing, not a bond restructuring or a haircut.

The last issuance of the week started to come in on Thursday, as munis were weaker still.

Manufacturing activity in the Federal Reserve Bank of Kansas City's region "continued to expand at a solid pace and … firms remained optimistic about the future."

The last issuance of the week is expected to drift in on Thursday, on the heels of yields jumping after details of tax reform were released.

Fitch Ratings said it has withdrawn its ratings for the United States Virgin Islands and the USVI Public Finance Authority.

Initial claims U.S. state unemployment benefits rose by 12,000 to 272,000 in the September 23 week, above the 265,000 level expected.

Second quarter GDP growth was revised up slightly to a 3.1% annual rate from the 3.0% pace in the second estimate.

Bonds were hit hard as tax reform details were disclosed.