Markets

Weekly volume in the primary municipal bond market is expected to drop below $5 billion for the third time in five weeks.

As the capital city's bonds plunged deeper into junk, Connecticut struggled to pass a state budget.

Top-shelf municipal bonds were mixed at midday, according to traders, who are looking ahead to next week’s new issue calendar. Ipreo estimates total bond volume for next week at $4.72 billion.

The state awaits word on how Gov. Tom Wolf will handle the situation as bond rating agencies continue to hover.

A planned overnight short-notice vote failed to materialize amid continued tweaks.

The value of business inventories rose 0.2% in July, as expected by analysts and predicted by an MNI calculation, while business sales were also up 0.2%, a Commerce Department report Friday showed.

The University of Michigan's preliminary September consumer sentiment index reading was 95.3, compared to the final August 96.8 and the preliminary August 97.6, according to market sources.

Industrial production plunged 0.9% in August, the Federal Reserve reported Friday.

Municipal bond traders on Friday are looking ahead to next week’s new issue calendar.

Retail sales slid 0.2% in August after gaining a revised 0.3% in July, originally reported as a 0.6% increase, the Commerce Department said Friday.