Markets

Munis were stronger on Thursday as the last of the week's supply slipped into the market.

Respondents to the monthly manufacturing survey reported higher prices received, suggesting growing inflation, while respondents voiced concern about trade policy.

The value of U.S. durable goods new orders rose by 2.6% in March, much faster than the 1.7% increase expected by analysts in an MNI survey.

Initial claims U.S. state unemployment benefits fell by 24,000 to 209,000 in the April 21 week, well below the 231,000 level expected by analysts in an MNI survey and the lowest level since the December 6, 1969 week, data released by the Labor Department Thursday showed.

Illinois paid more to borrow in Wednesday's bond sale compared to last year, though yields narrowed from recent trading levels.

Matthew O’Grady, a 20-year municipal veteran, joins KeyBanc from Piper Jaffray.

Municipal bonds were weaker Tuesday as Illinois sold $500 million of bonds and the N.Y.&N.J. Port Authority deal was priced.

S&P Global Ratings lifted Moberly, Missouri, out of speculative grade with a four-notch upgrade.

Ohio Higher Educational Facility Commission will issue $105 million of tax-exempt revenue bonds on behalf of Case Western Reserve University.

Pension costs and slow growth in state revenues contributed to a fifth straight year of net tax-supported debt growth of under 2%.