The composite index of leading economic indicators fell 0.5% in October, the Conference Board reported Wednesday. LEI increased a revised 0.1% in September, originally reported as a 0.3% increase. The coincident index was flat after an unrevised 0.2% gain in September, while the lagging index was up 0.3% after a revised 0.4% gain in September, originally reported as a 0.5% increase. Economists polled by IFR Markets predicted LEI would be down 0.3% in the month. “The data are pointing to a continued slow economy,” according to the Conference Board labor economist Ken Goldstein. “It might even slow a little more after the holidays. Business confidence could edge lower, with unrelenting concerns about price increases not keeping up with wage pressures. At the same time, consumers worry about wages not keeping up with price increases. Clearly, where the economy is headed in the early months of 2008 is heavily dependent on perceptions about price.”
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"Bond market investors are all wishing that April was behind us as they are anxious to hear the Fed's statement at its next FOMC meeting," noted BofA Global Research. "The statement should be no surprise as the market consensus has converged to 'higher for longer' rates.
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CDIAC's revamped website, which launches May 1, will offer accessibility to state and local debt from issuance through maturity; and the ability to create summary reports based on search features.
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The Governmental Accounting Standards Board is looking for feedback on disclosure requirements related to infrastructure projects.
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The MSRB is warning investors that the redemption of Build America Bonds under an extraordinary redemption provision could result in losses, especially for those purchased at a premium.
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With billions of federal funding available from the Infrastructure Investment and Jobs Act, one observer says it could be limiting the amount of municipal bonds issued by the sector.
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Teague, most recently an executive director of the municipal securities department at Morgan Stanley, will focus on surface transportation.
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