NEW YORK - The federal government posted a $98.5 billion budget deficit in October, down from the $140.4 billion deficit last October, but up from September’s $64.6 billion shortage, the Treasury Department reported Thursday.
Outlays totaled $261.5 billion and receipts were $163.1 billion.
Economists expected a $107.5 billion deficit for the month, according to the median estimate from Thomson Reuters.
The quiet in the muni market is likely due to geopolitical uncertainties, according to Cooper Howard, director of fixed income strategy at Charles Schwab.
U.S. District Judge Laura Taylor Swain ordered the parties in the PREPA bankruptcy to focus on the bondholders' accounting counterclaim.
The veteran underwriter said he's excited about joining a smaller, more focused firm, where he can once again expand its competitive bidding capabilities.
Dealer inventories hit $8.8 billion in unsold variable rate bonds as of noon, Eastern, Tuesday, rising sharply over the past week, said Rick White, an independent consultant with more than 25 years in the industry.
Kevin Warsh's financial disclosures show significant wealth, likely well-over $100 million, beyond that of even Federal Reserve Chairman Jerome Powell, who came from the private equity world.
A temporary injunction issued Monday blocks the removal of minority- and women-owned firms from the state's Historically Underutilized Businesses program.
