Markets

Chicago's final pension fix passed the House but needs Republicans on board if the governor vetoes it.

The Chicago Business Barometer rose to 58.3 in April from 57.7 in March.

The municipal bond market is taking a breather on Friday since no major bond deals are scheduled to be priced in the primary.

The seasonally adjusted Milwaukee Report on Business declined to 57.87 in April from 61.77 in March, the Institute for Supply Management-Milwaukee reported Friday.

The Employment Cost Index rose 0.8% in the first quarter after rising by only 0.5% in the previous quarter, lifting the year/year rate to 2.4% from 2.2% in the previous quarter.

First quarter GDP growth rose only 0.7% at an annual rate in the advance estimate, a softer reading that the 1.2% gain expected.

The Midwest Economy Index improved to 0.60 in March from 0.28 in February, the Federal Reserve Bank of Chicago said Friday.

In the week ended April 27, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index rose four basis points to 4.19% from 4.15% the previous week. The BB40 Index is based on the price of 40 long-term bonds.

Municipal bonds finished steady on Thursday, according to traders, as the last big sale of the week came to market.

Indiana passed a law to respond to S&P's critique of its school bond intercept program.