Economic indicators

While "munis are set up for better performance, perhaps modest single-digit returns, the near-term outlook for fund flows will make for a challenging read," Oppenheimer's Jeff Lipton said.

Ellis Phifer, managing director and senior strategist in the fixed income research department at Raymond James, talks with Chip Barnett about the state of the bond markets. (Taped Feb. 16; 15 minutes)

The economy was boosted by COVID and hurricane relief money, one economist says.

Rising interest rates, market volatility and the loss of business and revenue top the public finance industry's concerns for 2023.

Significantly fewer households expected to be in worse shape in the coming year than was the case last summer, according to a December survey. The results are a positive sign for banks at the start of earnings season.

"A fade in muni prices came on the heels of sovereign debt actions, leaving ratios subject to some correction with just a few sessions remaining in 2022," said Kim Olsan, senior vice president of municipal bond trading at FHN Financial.

"We continue to see very strong job numbers. Florida is in as good of a position as we could possibly be," said Jimmy Heckman of the state Department of Economic Opportunity.

Puerto Rico's employment trends are better than its fellow territory's since the onset of the COVID-19 pandemic, say Federal Reserve Bank of New York analysts.

Revenues were up while economic activity slipped, with some observers suggesting Hurricane Fiona may have had a negative impact on the economy.

Treasury Secretary Janet Yellen said that while the U.S. financial system remains resilient, the current backdrop has created the conditions where risks to its stability could appear.

At 2.5%, Florida's September unemployment rate is the second lowest in the state's history and the lowest since October 2006.

"The outlook for future economic growth remained generally weak, with contacts noting expectations for further softening of demand over the next six to twelve months," the Fed said Wednesday in its Beige Book report.

But it still remains slightly higher than it was a year ago.

Federal Reserve chair Jerome Powell said the central bank will remain aggressive in fighting inflation despite promising economic data.

Consumer expectations for U.S. inflation over the coming years declined sharply in the latest survey by the Federal Reserve Bank of New York.

The Federal Reserve Bank of Chicago’s National Activity Index held at minus 0.19 in June, the first back-to-back negative readings since the pandemic started in early 2020.

Investors will see almost $11.5 billion of volume head their way in the largest new-issue week of the year. More participants expect municipals to improve in the second half of 2022.

New York Fed president calls Puerto Rico's recovery from the COVID-19 slump "astounding."

A survey shows local business owners are more pessimistic than they were six months ago.

Municipals posted gains for the first time in 2022 in May, outperforming U.S. Treasuries on the month. The Bloomberg Muni Index posted a 1.49% return in May bringing losses down to 7.47% year to date.