The consumer confidence index decreased to 96.1 in November from an upwardly revised 101.4 last month, The Conference Board reported Tuesday. The October index was originally reported as 100.9. IFR Markets predicted a 98.0 reading for the index. The present situation index slipped to 105.9 from 106.2, while the expectations index fell to

President-elect Joe Biden’s selection of Janet Yellen as Treasury secretary signals that he plans to act aggressively to revive the world’s biggest economy, putting a former Federal Reserve chair who’s not shied away from stimulus at the helm of his economic policy. With Yellen in charge, Biden’s Treasury Department will be

The Chicago Transit Authority faces deep

Jennifer Johnston, past National Federation of Municipal Analysts chair and Amy S. Doppelt Award winner, has been promoted to senior vice president and director of research by Franklin Templeton Fixed Income’s Municipal Bond team. She replaces Tom Walsh, who is retiring on Dec. 1. Johnston is part of an industry trend that

“States are hopeful the enhanced FMAP

Statistics show that Puerto Rico’s economy bounced back in September and October from the spring COVID-19 lockdown. Puerto Rico bondholders and the Puerto Rico Oversight Board have been using economic developments on the island to justify smaller or larger haircuts on the bonds in restructuring negotiations. In September the island’s Economic Activity

Municipals held steady Monday while Treasuries weakened and equities rose as investors refocused on the effectiveness of vaccines against COVID-19. Yields on top-quality munis were unchanged on the AAA scale with Treasury bond yields rising as much as four basis points.

President-elect Joe Biden plans to nominate former Federal Reserve Chair Janet Yellen to serve as his Treasury secretary, a move that would put the first woman and a seasoned central banker into the nation’s top economic policy job as the coronavirus pandemic threatens another U.S. downturn, people familiar with the

The New Jersey Transportation Trust Fund Authority hit the timing right on its upcoming $1.5 billion of tax-exempt transportation program bonds, analysts said. Strong market fundamentals for municipal bonds coupled with light issuance next week may result in tightening spreads on the TTFA bonds despite its low credit ratings, according to

The Municipal Securities Rulemaking Board has rearranged its senior leadership team following the appointment of a new chief executive officer a few months ago. The MSRB made that announcement on Monday. Many of its senior officers are staying on board, though a chief compliance officer position was eliminated and the board