Markets

The Employment Cost Index slowed to 0.5% gain in the second quarter, a slower pace than expected and down from the 0.8% gain in first quarter, data released by the Bureau of Labor Statistics Friday showed.

Second quarter GDP rose 2.6%, slightly less than the 2.7% pace expected, while first quarter growth was revised down modestly to a 1.2% pace from 1.4% rate previously reported, data released Friday by the Bureau of Economic Analysis showed.

The RTA is facing state funding cuts but the new Illinois budget at least provides more funding certainty.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices fell three basis points to 4.02% from the previous week's 4.05%.

Top-rated municipal bonds ended weaker on Thursday, traders said, as primary offerings dwindled down to a few last big deals.

The Treasury Department Thursday sold $20 billion 14-day cash management bills, dated August 1, due August 15, at a 1.010% high tender rate.

The Treasury Department auctioned $28 billion of seven-year notes, with a 2 1/4% coupon and a 2.126% high yield, a price of 99.993528.

All Aboard Florida foes urged USDOT to use “extreme caution” reviewing a loan for the train project.

Top-rated municipal bonds were mixed at midday, traders said, as primary offerings dwindled to a few large deals.

The number of U.S. building permits issued in June was revised up to an increase of up 9.2% to a 1.275 million unit annual rate, the Commerce Department's Bureau of the Census said Thursday.