New York City business activity expanded but at a slower rate in April as the current business conditions index fell from a 13-month high to 61.2 in April from 67.4 in March, according to the Institute for Supply Management-New York’s Report on Business index released Wednesday, .
The report’s six-month outlook index receded to 63.1 from 79.5. The NY-BCI climbed to 557.4 from 551.8.
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.
