Markets

A second straight month of stagnant orders for business equipment in April indicates investment in capital goods could slow in the second quarter, Commerce Department data showed Friday.

Municipal bonds were stronger on Friday as the market looks ahead to next week’s holiday-lite new issue slate. Secondary trading will end early ahead of the long holiday weekend.

First quarter GDP growth was revised up to a 1.2% pace in the second estimate from the 0.7% gain in the advance estimate, with upward revisions seen for every component except for inventory growth, data released Friday by the Bureau of Economic Analysis showed.

In the week ended May 25, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index fell five basis points to 4.11% from 4.16% the previous week. The BB40 Index is based on the price of 40 long-term bonds.

The Aurora City Council has passed a $16.5 million bond issue to fund capital projects during the next four years.

The majority of Adams County voters rejected a $35 million school bond issue on Tuesday's ballot as the measure failed.

The Tuscaloosa County School System took a step toward building additional schools by moving forward with a bond sale to finance the projects.

Contra Costa County supervisors on Tuesday approved issuing up to $110 million in construction bonds to pay for a new main county administration building downtown and a new county Emergency Operations Center across town.

Municipal bonds finished narrowly mixed on Thursday as traders began winding up business for the week. There were no major bond sales pricing in the primary on Thursday or Friday and muni yields are expected to remain in a tight range ahead of the long holiday weekend.

New York City Council members chided Mayor Bill de Blasio for misaligned capital commitments.