Markets

The state Supreme Court ruled that the Kansas school funding system is inadequate.

Top-shelf municipal bonds were weaker at midday, according to traders, who are looking ahead to the $7.2 billion new issue holiday week calendar.

The value of wholesale inventories rose 0.9% in August, a downward adjustment from the 1.0% gain estimated in the advance estimate, while wholesale sales rose 1.7%, data released Friday by the U.S. Commerce Department showed.

The New York City Transitional Finance Authority said it plans to sell $850 million of tax-exempt fixed-rate future tax secured subordinate bonds on Wednesday, Oct. 18. There will be a two-day retail order period starting on Monday, Oct. 16.

Municipal bond traders on Friday are looking are looking at a quiet day ahead of the long holiday weekend. U.S. Treasuries were weaker on Friday after the release of a weaker-than-expected employment report for for September.

The number of workers on U.S. payrolls declined in September for the first time since 2010, reflecting major disruptions from hurricanes Harvey and Irma.

The state’s Third Frontier program awards grants and loans to emerging technology projects.

Chicago hopes to get into the market by year's end with the first of up to $3 billion of refunding under new credit.

S&P cited the territorial government’s choice to not provide adequate information.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, rose to 4.03% from 4.02% last week.