Mortgages

It is most certainly an issuers' market as rates are low, credit spreads continue to tighten, money pours into municipal bond mutual funds at record levels and a net negative supply of more than $11 billion.

New issues priced with ease with high-grade issuers tight to triple-A benchmarks. It was the first time the municipal yield curve saw such noticeable movement, following little changed secondary activity for nearly the past two weeks.

A 'perpetual calm' continues to fall over the municipal market as inflows into municipal funds, combined with the shortage of traditional tax-exempt supply, is directing most aspects of daily market activity.

While Florida has gained jobs for eight straight months, Fitch warns it could take up to four years for the travel, leisure and hospitality sectors to recover, areas that play an important role in the Sunshine State's economy.

Refinitiv Lipper reports another multi-billion week of inflows, the domino effect from such strong flows is that secondary selling doesn’t need to be so active, creating fewer opportunities for new inquiry, analysts say.

The companies said the new offering combines ICE Data Services’ expertise in municipal bond pricing and reference data alongside ADP’s aggregated, anonymized and timely HR and compensation data.

Rhode Island Housing and Mortgage Corp. is coming off its inaugural social bond issuance.

The employment report showed 140,000 decline in nonfarm payrolls in December, but economists found some positives in the numbers.

The Connecticut Housing Finance Authority calls it a roadmap for creating greater opportunities for low- and moderate-income state residents.

The $125 million deal from the Colorado Housing Finance Authority carries a third-party social bond opinion from Kestrel Verifiers.

While way up annually, pending home sales saw its third consecutive month of decline. Elsewhere, the Chicago PMI bested estimates.

The housing market continues to shine, showcased by the S&P CoreLogic Case-Shiller national index, which climbed 1.4% in October from a month earlier. On an annual basis the national index jumped 8.4% in October, compared with 7.0% in September.

Jobless claims decreased in the latest week, while new home sales fell 11%.

The resurgence of the coronavirus led to a larger than expected drop in consumer confidence.

Fitch Ratings said Tuesday the $900 billion “will help stabilize state and local budgets in fiscal 2021 even if it does not include direct aid to most governments.”

The Federal Reserve Bank of Philadelphia's manufacturing index fell to a seventh- month low, while jobless claims hit a three-month high.

The rising number of COVID-19 cases and the restrictions imposed to stop its spread, led to a pullback in consumer spending and has a regional service sector reeling.

The 245,000 increase in nonfarm payrolls indicated a slowing, and with lockdowns rising, December's numbers could fall again.

Pending home sales unexpectedly declined in October, the second consecutive month they dropped.

The flood of indicators released Wednesday were indicative of a slowing economy, analysts said.