Markets

Moody's Investors Service lowered the Philadelphia-based university to Baa1.

The University of Michigan's final February consumer sentiment index reading was 93.8.

The overall economy grew for the 118th straight time, the Institute for Supply Management reported Friday.

Americans' incomes unexpectedly fell in January, the first decline in about three years, following a surge in the prior month that reflected special dividends and farm subsidies.

In the week ended Feb. 28, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, fell to 4.04% from 4.06% last week.

The state treasurer's office is reviewing proposals for underwriting and remarketing services, and the Public Facilities Commission is choosing attorneys.

Muni buyers scrambled to snatch up the last of this week’s new issues on Thursday.

The next mayor will be under pressure on pension funding, labor contracts and economics, S&P Global Ratings said.

Municipal bond issuance jumped 29.2% in February, and may climb further as the initial effects of the 2017 tax act fade.

The region's 2018 new money bond sales were up 2% year-over-year, but refundings fell 57%.