Mortgages

“Our state’s strong economic recovery has accelerated back to pre-pandemic levels for unemployment and GDP,” said Gov. Bill Lee.

The weaker-than-expected employment report sent U.S. Treasury yields lower and equities sold off. Munis did what they've been doing — mostly ignored it.

The Investment Company Institute reported $974 million of inflows into municipal bond mutual funds in the week ending Nov. 23, down from $1.430 billion in the previous week.

The Build Back Better Act contains provisions that could help states finance additional affordable homes.

State economies are generally stronger than anticipated in the first half of 2021.

By lowering the amount of private activity bonds needed to finance low-income housing, the provision would free up PABs volume for other projects.

The long end of the municipal curve rallied under a backdrop of stronger-than-expected October jobs data and upward revesions to the prior two months ahead of the arrival of $9.6 billion next week.

The Illinois Municipal Electric Agency will have paid off its debt by the time the Prairie State Energy Campus faces an emissions deadline to avoid an early decommissioning under new Illinois clean energy mandates.

Municipals outperformed the move in taxables Friday but weakness hangs over the market as fund flows lessen and supply increases. Taxable munis may be keeping exempt rates from moving higher.

ICI reported $704 million of inflows, a $1.1 billion drop from the week prior, bringing the total to $76 billion year to date.

Mayors are urging Congress to preserve major housing support in the reconciliation bill.

In both states, jobs have recovered past where they were prior to last March when the pandemic hit the U.S.

The rating agency elevated the agency's energy housing and economic recovery bonds to Aa3.

Better-than-expected job gains, a rising UST complex and an increase in supply to test municipals' resolve.

With all eyes on Friday’s employment report, since several additional strong months of gains are needed for the Federal Reserve to be comfortable announcing a tapering of its asset purchases, Wednesday’s news could signal trouble.

With municipal yields at exceedingly low absolute levels, the spread tightening between credits also continues.

Negotiated deals were repriced to lower yields while competitive deals saw levels coming in through triple-A benchmarks. High-grade benchmarks were little changed.

Florida’s unemployment rate rose 0.1% to 5.0% in June while gaining more than 69,300 jobs, as active job seekers look to rejoin the workforce.

The city, which Moody's downgraded last week, is appealing a Nassau County judge's ruling that has it on the hook for $131 million over a dispute with a developer.

With better-than-expected payrolls, economists still caution full recovery is a ways away. Muni participants are closely following how the Fed's action — or inaction — will affect the municipal market going forward.