NEW YORK – The region's manufacturing sector increased in July, as the general business conditions index jumped to positive 3.2 from negative 7.7 in June, this month’s Federal Reserve Bank of Philadelphia Report on Business indicates.
Economists surveyed by Thomson Reuters predicted a reading of positive 2.0 for the index.
"I don't mind owning a railroad for $2.4 billion," said Assured CEO Dominic Frederico.
Northwest Nazarene University, an Idaho private Christian college, had its ratings outlook revised to positive.
Munis should do "relatively well" this month, as investors will "focus on heavy summer redemptions; tax-exempt supply should remain healthy but is unlikely to overwhelm," said Barclays strategists.
The Manhattan-based Ivy League university reached a settlement with the federal government last year. It is selling $487 million of bonds this month.
"The rates market has started to turn from the upper end of the trading range this week," Barclays strategists wrote, but with the war with Iran still driving the market, nothing is certain.
Changes in federal funding are sharpening the focus on how the states will be responding to disaster relief, running social programs and budget planning.
