Mortgages

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.