Markets

Deals came in waves in the busiest day of the week Wednesday, with the market firming and most issuers able to lower yields.

Mike Duggan won another term in Detroit, and Flint's Karen Walker beat back a recall effort.

Voters in Houston approved the measure by a more than three-to-one margin.

Eddy County Commissioners unanimously approved an industrial revenue bond for a company planning to build and operate a natural gas plant within the county.

JPMorgan Securities won the week’s largest bond deal — Pennsylvania’s $974 million of general obligation bonds. In secondary trading, municipals were stronger at midday.

Labor market “activity increased modestly and momentum remained high in October.”

In a document rife with broken promises and misstatements about the muni market, the “Tax Reform” proposal beats up on the municipal bond market and state and local bond issuers to an extent never envisioned prior to the publication of that proposal.

Pennsylvania is set to hit the market with the week’s biggest offering — a $974 million competitive sale. Municipals were stronger, according to early trade data.

The first of the week's new issuance rolled in on Tuesday as strengthening municipal bond prices allowed underwriters to cut yields on some of the day’s larger deals.

Consumer credit increased by $20.8 billion in September to $3.788 trillion, the Federal Reserve reported Tuesday.