Markets

Price indexes in the latest New York manufacturing survey came in higher than expected, furthering inflation concerns.

Colorado lawmakers are working on a $5 billion funding proposal for transportation; this week's $500 million debt issue targets immediate needs.

Three upgrades in two days and four in six weeks mark the state's first bond-rating upgrades in 20 years.

After facing outside economic data pressures and rising U.S. Treasuries, municipals ended the week on solid footing ahead of a larger calendar with newly upgraded Connecticut leading with $1 billion of exempt and taxable GOs.

Fitch Ratings, S&P Global Ratings and Kroll Bond Rating Agency all upgraded the Constitution State ahead of a $1 billion taxable and tax-exempt transaction set for Wednesday.

Proposed remedies were as varied as the candidates themselves as eight leading Democratic candidates jousted in a live televised debate.

Refinitiv Lipper reported $750 million of inflows into municipal bond mutual funds for the week ending May 12 while high-yield funds saw $487 million of inflows.

The outlook shift to stable from negative is a badly needed shot in the arm from the capital markets as the city prepares to come out of the COVID-19 pandemic.

While the pressure was on municipal yields, which rose two to four basis points, the Investment Company Institute reported another week of inflows, with $928 million coming into municipal bond mutual funds and another $285 million into ETFs.

First quarter FDIC data show a $10.75 billion-plus jump in U.S. banks’ net purchases of municipal securities, the eighth biggest quarter since 2003, MMA says.