March industrial production was down 1.5%. Market estimates ranged from negative-1.8% to 0.0%. February industrial production was unrevised at negative-1.5% .
March capacity utilization reported 69.3%, which was a bit lower than market expectations. The median consensus estimate for March was for a slight increase of 69.6%. Market estimates ranged from 68.2% to 70.9%.
February capacity utilization was revised to 70.3% from a previously release 70.2%.
A combination of a "stronger-than-expected economy, higher Treasury rates, robust supply, and rich valuations resulting in choppy markets" have made the trading environment in H124 "quite difficult," according to Barclays.
Two rating agencies upgraded Los Angeles Unified School District's bond ahead of multi-billion dollar refunding.
The Basel III Endgame proposal to restructure capital holding levels comes under fire.
Friday price talk for the unrated tax-exempt paper was between 11% and 15%.
The board approved that step at its second quarter board meeting held this week.
The Inflation Reduction Act, affordable housing and clean energy were among the topics discussed at Baker Tilly's DevelUP conference in Chicago this week.
