Markets

ECRI inflation gauge rises to 111.9 in August.

The University of Michigan's final August consumer sentiment index reading was 96.8, compared to the preliminary August 97.6 and the final July 93.4, according to market sources.

Construction spending was down 0.6% in July, with a 0.4% decline in private construction and a larger 1.4% drop in public construction, data released by the Commerce Department Friday morning showed.

The overall economy grew for the ninety-ninth straight time, the Institute for Supply Management reported Friday.

The municipal bond market is winding up the week ahead of the three-day holiday weekend. Markets will be closed on Monday in observance of Labor Day.

The U.S. economy added fewer employees than expected in August, the jobless rate rose and wages rose less than forecast, in a break from otherwise solid progress in the labor market.

In the week ended Aug. 31, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index was two basis points lower to 3.99% from 4.01% from the previous week.

Volume shrank from August 2016, when the market was on a record-breaking run.

Top-rated municipal bonds finished mixed on Thursday as the market quieted down ahead of the Labor Day weekend.

A firm deploying a direct-to-buyer bond technology platform was among the co-managers.