Markets

Munis were stronger Monday as bond buyers kept an eye on the Federal Reserve policy makers' meeting.

The MSRB will ask for market feedback on potential interpretive guidance related to a practice the board worries may impair market liquidity.

Monthly volume rose the highest in the year to date, as an increase in new-money deals partly offset a decline in refunding transactions.

Municipal bond buyers are awaiting this week’s new issue supply as they keep both eyes firmly on the Federal Open Market Committee’s monetary policy meeting.

Texas factory activity, as measured by the production index, “rose markedly in April after posting slower growth in March.”

Pending home sales gained 0.4% to an index reading of 107.6 in March, from a downwardly revised 107.2 in February.

The MNI Chicago Business Barometer rose 0.2 points to 57.6 in April, up from 57.4 in March, snapping a three-month downward trend.

Respondents pointed to issues arising from tariffs and price increases for the decline.

Personal income rose 0.3% in March, while nominal PCE was up 0.4% and the core PCE price index rose 0.2% in the month and 1.9% year/year, about as expected, data released by the Bureau of Economic Analysis Monday morning showed.

The March Midwest Economy Index climbed to 0.52 from a revised 0.41 in February, first reported as 0.44, the Federal Reserve Bank of Chicago said Monday.