Markets

Muni traders on Friday are looking ahead to next week’s lighter new issue slate, which will be dominated by a note deal, rather than a bond sale.

In the week ended Aug. 17, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index was steady at 4.01% from the previous week. The BB40 Index is based on the price of 40 long-term bonds.

Top-rated municipal bonds ended mixed on Thursday, traders said, as the last big deals of the week came to market.

The $358 million deal saw net present value savings of 9.46%, among the highest the state has seen.

Top-rated municipal bonds were steady at mid-session, traders said, as the last big deals of the week were heading to market.

The composite of the Leading Economic Index was up 0.3% in July following an unrevised 0.6% increase in June, the Conference Board reported Thursday.ted Thursday.

Municipal bond traders will see the last big deals of the week come to market on Thursday, led off by sales from issuers in Colorado and Illinois.

Industrial production was up 0.2% in July, the Federal Reserve reported Thursday.

Initial claims for U.S. state unemployment benefits fell by 12,000 to 232,000 in the August 12 employment survey week, below the 240,000 level expected and following no revision to the 244,000 claims level in the previous week, data released by the Labor Department Thursday showed.

The region's manufacturing sector expanded in August, but at a slower pace than in July, as the general business conditions index decreased to 18.9 from 19.5 in July, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.