Markets

Illinois is staring at a historic fall into junk territory if lawmakers can't compromise.

The Chicago Business Barometer rose to 65.7 in June from 59.4 in May.

The seasonally adjusted Milwaukee Report on Business remained in a range in June.

Personal income rose 0.4% in May, while nominal PCE was up 0.1%, and the core PCE price index posted another modest 0.1%, data released by the Commerce Department Friday morning showed.oans.

The Midwest Economy Index declined to 0.51 in May from 0.72 in April, the Federal Reserve Bank of Chicago said Friday.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices rose one basis point to 4.05% from the previous week's 4.04%.

Bonds were hit Thursday by a combination of global central bank comments, strong Eurozone economic data, and rising expectations of another interest rate hike by the Federal Reserve this year.

Municipal bonds were weaker as yields rose as much as seven basis points. In the primary, the N.Y. MTA postponed its $700 million green bond deal while Goldman priced the Los Angeles Department of Water & Power’s bonds.

The U.S. Securities and Exchange Commission may take action against bankers from Barclays Plc and Morgan Stanley for their roles in Puerto Rico bond sales before a worsening fiscal crisis sent it hurtling toward bankruptcy.

Municipal bond traders are eyeing yields on the rise as the primary gets set to see the last of the big deals of the week hit the market on Thursday.