Markets

Demand for municipal bonds is high, with one factor keeping munis from the volatility being experienced in other markets.

The value of new factory orders saw a 1.6% increase in March, up seven of the last eight months.

The U.S. services sector expanded at a slower pace in April as the non-manufacturing index fell to 56.8 from 58.8 in March.

The U.S. international trade gap narrowed to $49.0 billion in March from $57.7 billion in February, data released by the Commerce Department Thursday morning showed.

First quarter nonfarm productivity rose by 0.7%, a slightly smaller gain than the 0.9% rise expected.

Initial claims U.S. state unemployment benefits rose by only 2,000 to 211,000 in the April 28 week, well below the 225,000 level expected by analysts.

Munis followed Treasurys after the Federal Reserve left interest rates unchanged and tweaked its statement on inflation.

Aid to Hartford, in light of Connecticut’s assumption of city GO debt over 20 years, has become a lightning rod.

Caution is the watchword in the municipal market on Wednesday as participants await details of the Federal Reserve's monetary policy meeting.

The New York economy continues to expand.