Markets

The value of new factory orders rose by 1.4% in September, rising slightly higher than the expected 1.2% rise by analysts from an MNI survey.

The September trade deficit widened to $43.5 billion, exactly as expected.

U.S. employers added the most workers in a year, rebounding from September’s slowdown, as people resumed work after hurricanes Harvey and Irma.

While yields on the 20-bond, 11-bond, and revenue bond indexes climbed two basis points in the week ended Nov. 2, the Bond Buyer 40 index's yield declined one.

Market participants reacted negatively to the proposal in the tax reform bill to eliminate advanced refundings and private activity bonds, saying it would crimp volume and the savings issuers can get when rates fall. In the primary, strong demand met a Virginia issuer's $737 million PAB.

The U.S. Virgin Islands expects to get parts of an $800 million federal loan by mid-November.

Strong legal and structural protections earned the debt top grades from Kroll and Fitch. S&P wasn't as bullish.

Moody's cited the city's reliance on nonrecurring revenues.

Moody’s Investors Service moved the outlook to negative in advance of a $40 million revenue bond sale.

Municipals and Treasuries were stronger around midday, with the GOP releasing some details of its tax bill and ahead of President Trump’s expected nomination of Jerome Powell as Fed chair.